UK combined oil and gas production in May remained static for the first time in a year,according to the latest(August)Royal Bank of Scotland Oil and Gas Index.This was largely driven by some growth in gas production,up 3.5% on the year at 9,549mn cf/d,and a small year-on-year decline in oil production of 3%,down to 1,724,597 b/d.Tony Wood,Senior Economist with The Royal Bank of Scotland Group said: 'May's data represents a significant turnaround in UK oil and gas production,which has seen continual declines during the past two years.
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