Insight
What price oil? 2024 In review
...way to Europe and stocks began to replenish, exacerbated by weaker demand. Petrol prices performed well ahead of the seasonal transition with fundamentals remaining tight. March Lower crude oil prices...
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Opinion
OMJ anticipates oil market movements
Amidst a global lockdown resulting in less and less demand for oil, the oil market has been in turmoil. Ian Moore, director of the Oil Market Journal (OMJ) shares his...
Market Report
The increasing impact of China’s economy on global oil demand
...driver of oil demand growth over the last 20 years. Oil markets have become so reliant on China’s seemingly endless growth The slowdown in global oil consumption is largely the...
Analysis
Ambitious EV growth targets raise UK grid concerns but what of the impact on oil demand?
...oil demand. Alongside this, Aramco is testing technologies that will increase demand for oil in other areas. It has teamed up with Chevron Lummus Global, a venture to turn up...
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Knowledge
Data: the UKIFDA databank
...petrol demand increasing by 4.1%, countered by a 3.2% decrease in demand for diesel. Biofuel demand continued to grow with bioethanol and biodiesel demand up by 16% and 19% respectively....
Insight
What price oil? 2023 In review
...2023 was driven as much by macroeconomic factors as it was by oil supply and demand. ICE Gas Oil rallied to a peak of $1,012.25/t. as China reopened its economy...
Insight
Oil-price survey forecasts Brent to be above $80 a barrel by end of 2024
...more baked into oil prices. That’s after they were outweighed by weak economic prospects and a bleak demand picture in the past few months, as Brent oil price tests $85...
News
February 2016 update
...In the past, Portland has taken a fairly sanguine view of this supposed reduction in global oil demand – preferring to call it a slow-down in demand growth rather than...
Opinion
Crude falls below $100/bbl as OPEC+ increases output but for how long?
...coronavirus, demand is expected to increase resulting in rising global oil demand through 2023. This will leave producers once again needing to increase output to balance supply and demand. Given...
News
Oil price at seven-year high amid supply concerns
...oil in the world at a time when demand is robust and still growing. With Covid restrictions being lifted in many countries, demand will be further stimulated. “Tank bottoms are...
Further Reading
Insight
Security of oil supply in the fuel distribution sector
...of Russia’s role in the petroleum industry as the world’s second-largest crude oil producer and largest exporter of refined oil products. Closer to home, Russia supplies about 30% of Europe’s...
Interview
In Conversation with The Oil Lady
The Oil Lady is a fuel distribution business based in little Yeldham, Essex. It was founded in 2015, by Sheila Considine. Claudia Weeks, Content Lead for Fuel Oil News, spoke...
News
September 14 update
...North Sea oil had just been discovered and the slogan “it’s our oil” began to get traction. Back in October 2013, we looked at the downstream oil industry in Scotland...
Opinion
Free oil? Not today …
...behind the myth, “There is no doubt that oil demand has collapsed precipitously and that fuel prices have also come down a lot with the reduction in demand. But the...
Insight
The outlook for energy: A view to 2040
...presence in the global energy market, its key findings are worth capturing. Oil will remain the number one global fuel What are the key findings of this ‘window to the future?’ Oil...
Interview
Celebrating 50 golden years of Peak Oil
...Peak Oil Tom Pearson founded Peak Oil as a business from his home address in Dronfield, back in 1972 and explains how it all began: “I started Tom Pearson Oils...
Insight
What price oil? 2022 in review
Ian Moore, founder and managing director of The Oil Market Journal, takes us through the year, highlighting the main impacts affecting the oil price in 2022. Contained within this article...
News
Cyberattack effect on oil prices
...transportation can affect oil prices due to the impact on the balance of supply and demand; if supply is limited and cannot meet demand as a result, prices generally rise....