Permian oil production reaches fresh high
09/01/2018 by Mark
Oil production in the prolific Permian Basin hit a new record of 815m barrels in 2017 according to recent research from IHS Markit, a
Oil prices start 2018 with strong opening
06/01/2018 by OilStoreAdministrator
Oil prices began the New Year at their highest level since 2014 against the background of anti-government protests in Iran, which
Rosneft sees possibility of output cuts beyond 2018
03/01/2018 by Richard
While presenting Rosneft’s strategy through to 2022, the company’s first vice president, Pavel Fedorov, indicated that he accepts the possibility that
Libya's oil production set back by pipeline explosion
30/12/2017 by OilStoreAdministrator
Libyan oil production was hit on Tuesday December 26 as a section of a pipeline exploded 81 miles south of Sidra.
US shale drillers set for production increase in January
27/12/2017 by Mark
The US Department of Energy’s most recent forecast predicts that US shale oil producers will kick off 2018 with strong output growth
Zero-subsidy wind power auction begins in Netherlands
24/12/2017 by OilStoreAdministrator
The Dutch Government has begun accepting bids to create 700 MW of offshore wind power capacity. The new tender is unique in
OPEC production at six-month low, but US shale output rises
21/12/2017 by Richard
OPEC’s recent monthly oil market report states that its total production fell by 133,500 bpd (barrels per day) in November to 32,448 million bpd, marking a six-month low for
Trade body predicts UK manufacturing to outperform wider economy
18/12/2017 by Mark
The manufacturers’ association EEF has published the results of its quarterly survey, which found UK manufacturing to be in robust condition. The trade body predicts
Brent rises as key pipeline shuts down
15/12/2017 by OilStoreAdministrator
Prices for the benchmark Brent crude rose by 2% earlier this week to a new two-year high as Ineos announced it had shut down a key North Sea oil pipeline in order to repair a…
Goldman analysts raise oil price forecast for next year
12/12/2017 by Richard
Following surprisingly robust commitment for extending the OPEC-led production cuts, analysts at Goldman Sachs have revised
OPEC production caps to continue to end of 2018
09/12/2017 by Richard
OPEC, and its oil-producing allies outside of the organisation, met in Vienna to agree to extend the current production caps to
ExxonMobil begins production at Hebron field
06/12/2017 by Mark
ExxonMobil, the oil giant that also produces industrial lubricants for Mobil UK stockists, has announced that production has begun at its offshore Hebron field. The field lies some