In times of uncertainty as to the direction of the oil price, it is with heightened awareness that I look at directors dealings in the oil sector.

But Lord Kerrs purchase of 2500 shares in Royal Dutch (RDSB, 1892p) at £18.72p doesn’t give me any direction.

He has been a consistent buyer over the last few years, but his purchases always seem to be in the upper half of the trading range for Royal Dutch’s shares.

In each of the last three purchases, he could have bought 5-10% cheaper within the next 1-3 months.

I know regulations only allow a narrow window for directors to deal in shares of their own company, but that is no excuse for paying too much.