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…
ExxonMobil to begin overseas export of American crude oil
07/03/2016 by Richard
Global oil corporation ExxonMobil, which is known for products like Mobil 1 New Life 0W/40, can now claim to be the first significant U.S. oil corporation to ship U.S. crude oil overseas. This move sees…
Railcars now being used to store oil in U.S.
01/03/2016 by OilStoreAdministrator
Due to the current glut in U.S. oil supply, traders have begun to experiment with new means of storing their surplus crude: empty railcars. Empty railcars have proved to be the storage method of choice…
Cuts to Saudi oil output called off
27/02/2016 by Mark
Saudi Arabia’s oil minister Ali Ibrahim Al-Naimi, speaking on Tuesday, February 23, declared that proposed production cuts to the country’s oil supplies will not take place. Despite this, it is hoped that oil producers will…
Glut in oil supply could last until 2017
24/02/2016 by Richard
The global supply glut has presented many challenges to the world’s largest oil producing companies, as well as