Crisis ‘almost at turning point’ according to Oil and Gas survey

With more than two in three companies in the oil and gas sector making job cuts in 2015, there are signs that the trouble may be reaching a shifting point following a (more…)

Why is it important to filter small quantities of oil?

One of the questions that is often asked about oil filtration relates to amounts less than 20 litres, and how they can be effectively filtered. This is a particularly important question when the lubricant in question is either expensive or intended for use in critical equipment.

Of course, filtering any oil is (more…)

IEA anticipates oil investment to fall again in 2017

Investment in fresh oil production is expected to fall for the third year in a row in 2017, as the worldwide supply glut continues fostering volatility in the crude oil markets, according to the head of the International Energy Agency (IEA).

Speaking at a recent conference in Japan, Faith Birol, IEA director said:

“Our analysis shows we are entering a period of greater oil price volatility (partly) as a result of three years in a row of global oil investments in decline: in 2015, 2016 and most likely 2017. This is the first time in the history of oil that investments are declining three years in a row.”

Oil prices have climbed of late, recently reaching their highest levels since October, amid growing expectations that the Organisation of Petroleum Exporting Countries (OPEC) will reach a deal to cut production levels. However, watchers of the market think that a deal may not be quite as substantial as Saudi Arabia and members of OPEC would like.

Speaking to Reuters recently, Birol mentioned that when oil prices reach $60, a lot of U.S. shale oil will be more economical, and within 9-12 months this could result in ‘downward pressure’ on the price of oil once more.

Low oil prices pique the attention of people, countries and even the biggest oil companies like ExxonMobil, which makes Mobil Delvac SGO 75W90. This is one reason why many of them have been hesitant to reinvest in oil production.

Oil prices at highest since October

Oil prices reached their highest levels since October on 22nd November, as the market was (more…)

IEA warns of oil boom and bust

The International Energy Agency (IEA) has revealed that it thinks a cycle of boom and bust in the oil industry is a likely outcome if the present cutback in (more…)

Russia not expecting another oil price crash

The chairperson of Russia’s Central Bank does not believe that another catastrophic fall in oil prices is likely, although she expects that a market recovery will not be substantially higher than present rates.

Speaking on (more…)

OPEC lowers oil price outlook by $20

The Organisation of Petroleum Exporting Countries (OPEC) has released a new report in which it states that oil prices may not reach levels above $60 (£48.32) per barrel until around 2020.

In the report, OPEC acknowledged that (more…)

Oil evaporation loss

If you have ever deposited a quantity of oil, whether it be from Shell, Fuchs or Mobile, into a drum or storage container, only to come back weeks or months later and find that the container is much lighter than it was, you are not alone. Oils of all kinds are subject to evaporation, although some suffer more than others, which means that the volume of oil will decrease over time.

Although this is not usually a problem, in some circumstances evaporation loss can (more…)

Global oil prices fall as Trump triumphs

As Donald Trump stunned the world by swooping to presidential victory, the oil markets were less victorious, as oil prices slipped below the (more…)

Working out the energy efficiency of oil

With so many different high-quality lubricant oils on the market from some of the biggest companies, including Mobil and Shell, it is only natural that you will want to work out which of them are more energy efficient. Choosing an energy efficient oil will obviously save you money, so it is well worth taking the time to find out.

The energy efficiency of an oil has to be measured in terms of (more…)

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