Stalemate on Doha arrangement leads to crash in oil prices
18/04/2016 by OilStoreAdministrator
Oil prices fell yesterday (April 17) after attempts by many of the world’s largest oil producers to freeze output finished without a deal being put in place. The sticking point proved to be Saudi Arabia…
What are the top 10 oil producing countries?
14/04/2016 by OilStoreAdministrator
In 2012, the International Energy Agency revealed that more than 64 percent of the world’s oil production came from the top ten of countries producing oil. This means that a lot of the oil we…
Economist says oil directors should take a pay cut to safeguard North Sea jobs
14/04/2016 by Richard
A top economist has made the suggestion that the directors of oil companies should lower their own pay in order to protect offshore jobs based in the North Sea. Speaking to
Oil prices drop amidst worries about output freeze
11/04/2016 by Richard
Crude oil prices dropped today when global bank Goldman Sachs was negative about the prospects of a prospective oil producer meeting being successful in handling the current global oversupply. However, the crude prices did not…
Oil prices could remain stuck for the rest of the year, bankers say
05/04/2016 by Mark
Despite the market seeing a strong improvement this February, and hitting a net positive for this year as a whole with the best monthly advance for 12 months being recorded, the recovery in oil prices…
UK oil and gas target rises by half
01/04/2016 by Richard
The most recent and Horse Hill Portland test results have been revealed, and it appears that due to a larger pump, UK Oil and Gas (UKOG) has increased the last recorded flow rate of oil…
Shell Lubricants appoints senior marketing staff
28/03/2016 by Mark
Shell Lubricants, which produces a range of products including Shell Omala S2 G 320, has recently made a slew of new staff appointments. The oil giant has named Carol Chen as
Saudi Arabia may halt output
25/03/2016 by Mark
Saudi Arabia is willing to sign up to an oil output freeze in April, even if Iran does not take part, according to a senior delegate from The Organization of the Petroleum Exporting Countries –…
Shell brings back classic motor oil
22/03/2016 by Richard
The popular Shell X-100 Classic Motor Oil will once again be available in North America thanks to an exclusive agreement between Into Great Brands/MotorKote and Heritage Fuels and Lubricants. The classic motor oil, which is
Year high achieved by midweek oil prices
19/03/2016 by Richard
Oil prices hit a new stock high for 2016, but analysts still do not think the proposed freeze at January prices will be enough to ease the glut in supply. At the beginning of the…
Oil prices fall as supply picture is uncertain
16/03/2016 by OilStoreAdministrator
Oil prices dropped for the second consecutive day yesterday (March 15), as concerns surfaced that a six-week rally could
Oil prices back on the rise
10/03/2016 by OilStoreAdministrator
After an extended period of falling oil prices, which saw oil fall to almost $20 (£14.04) per barrel back in February, sentiment in the oil markets appears to have flipped, bringing hope that oil prices…