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
‘Gatwick Gusher’ could prove rich oil source, says UKOG
21/02/2016 by Mark
According to UK Oil & Gas Investments (UKOG), the Weald Basin, which has been dubbed the ‘Gatwick Gusher’, has
Oil heavyweights come to output agreement
18/02/2016 by Richard
Russia and Saudi Arabia have agreed to freeze current oil output at near-record levels in the first coordinated move by the two oil giants. This is a move to counteract a
January sees drop in China’s crude oil imports
16/02/2016 by OilStoreAdministrator
China’s crude oil imports fell by 20% in January 2016, plunging to their lowest levels since October 2015, according to official customs data, which was shown yesterday (February 15). The country’s January crude oil imports…
Three methods for measuring air contamination in oil
15/02/2016 by OilStoreAdministrator
Measuring air contamination levels in your lubricants is extremely important because, should levels go above 10%, problems including
Rosneft renounces case for cuts to oil output
13/02/2016 by Mark
On Wednesday, Russian oil industry official Igor Sechin signposted his opposition to the prospect of linking with the
A brief guide to determining oil efficiency
12/02/2016 by Mark
One of the things that is often overlooked when selecting an oil is the issue of energy efficiency. Different oil brands like
Iran seeks euro oil payments
10/02/2016 by Mark
Iran is looking to recover multiple billions of dollars it is owed by India and other oil purchasers, but wants to do so in euros rather than the U.S. currency. The Middle Eastern nation it…
New technique could make oil performance even better
10/02/2016 by OilStoreAdministrator
Scientists recently published new research that could transform motor oil performance, reduce wear and tear in vehicles and possibly even save car owners money at
What if I ignore the manufacturer’s recommendations for lubricants?
09/02/2016 by Mark
One of the things that many of the people who have cause to purchase lubricants wonder about is whether or not it