Insight
What price oil? 2024 In review
A review of pricing data through 2024, for both Brent crude and HVO diesel, produced in association with The Oil Market Journal The following pages present a graph that shows...
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Insight
The Humber refinery – a key indigenous source of supply
...facility comprises two distillation units, one running light low to medium sulphur crudes with the other running sour/acidic crudes primarily from the North Sea for which the facility’s location endows...
News
OPEC+ continues oil production cut in uncertain market
...crude oil exports from the Middle East, West Africa, and US. The crude import ban is followed by a product import ban for the EU starting 5 February. With the...
Insight
Association stats show steady progress towards net zero
...Russian imports, however, was not the same for different oil products with Russian crude replaced first and diesel taking an extra two months to be phased out. Most Russian crude...
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News
Cyberattack effect on oil prices
...2% as a result. “As a domestic distribution network of refined product, opposed to crude, the wider impact on global oil prices was lessened, for example Brent crude prices increased...
Market Report
Prices and predictions: how did we do in 2025, and what does 2026 hold?
...demand remains stagnant. The most optimistic growth forecasts for crude consumption only show an increase in demand of circa 1.1m bpd in 2026, versus crude supply increases of up to...
Market Report
Volatile grounds: How geopolitical crises shape oil price fluctuations
...of Brent Crude in January was $78 per barrel (bbl), but by the end of May it had fallen to $63 – a 20% drop in the price of crude....
Opinion
Crude falls below $100/bbl as OPEC+ increases output but for how long?
...crude oil stocks of 4.5 million barrels, had an immediate impact on the oil price with crude oil trading lower the morning after the OPEC+ agreement was announced. Falling below...
News
Oil price at seven-year high amid supply concerns
...crude inventories are running low. In a recent report, Morgan Stanley said it had calculated that observable crude oil inventories globally had shed some 690 million barrels in 2021 leaving...
Market Report
Prices and predictions: how are we faring?
...it has had in lowering consumer prices, because do remember that end-users buy refined products, rather than crude oil itself. So, in January, refineries were buying their crude at $76...
Further Reading
News
February 2016 update
...of the crude oil sold around the world. The vast majority of crude oil is sold at a discount to these two grades. So when we talk about $20 a...
Opinion
We’ll meet again: oil to gas price gap shrinking rapidly
...have talked quite a few times about how the very high natural gas price must be a very bullish element for crude oil in general and for light sweet crudes...
Analysis
Energy Resilience – Is the UK facing a crisis?
...that importing refined materials drives a lack of control of the source of the crude being refined, as is the case on refined imports from India. India imports crude oil...
Analysis
Why has the price of heating oil risen faster than crude?
Heating oil prices have surged in recent weeks, as global oil markets react to escalating conflict in the Middle East. But while crude oil prices have risen sharply, kerosene –...
News
Why Canada’s environmental zealot will happily leverage the country’s oil to avoid financial havoc
...be the ultimate loser in any general “tit-for-tat” tariff war. Nonetheless, the new Prime Minister does hold one “ace in his pack” and that of course is Canadian crude oil....
Opinion
What is your opinion as to the likely impact of Article 7a of the Fuel Quality Directive?
...of intent. “In terms of direct impact, costs may increase for EU refiners because they will be forced to buy sweet crudes, although it may well transpire that heavier crudes...
Market Report
Disrupting the sector: the new Nigerian super-refinery
...expensive exercise.” Having no refining capacity puts a country at a significant economic disadvantage. Being able to produce crude oil is meaningless to a consumer, if that crude oil cannot...
Analysis
What price oil? Q2 2025 in review
In association with The Oil Market Journal. A quarterly review of the movements of, and impacts on, brent crude and HVO diesel prices. With data supplied by the Oil Market...