Tag Archives: oil price

Success despite oil demand & price slump

Rory Clarke Rix Group financial results statement

Leading Hull family business J.R. Rix & Sons Ltd has reported a successful trading year during 2020 despite ‘challenging and uncertain times’ brought about by the global Covid-19 pandemic. A slump in demand for petroleum products during lockdown, as well Read more »

Cyberattack effect on oil prices

The second week in May saw the largest pipeline in the United States shut down for five days after the operator of Colonial Pipeline was hit by a ransomware attack by Russian criminal group, DarkSide, as named by the FBI, Read more »

Oil price rises over $70 a barrel

This month once again saw the price of Brent crude hit $70 a barrel – it’s highest level in two months. Having first recovered to pre-pandemic levels in February of this year after slumping below $20 a barrel last April Read more »

Suggested $100 oil unlikely given abundance of OPEC capacity

According to a new report by Bloomberg Intelligence (BI), a supply gap big enough to push crude to a speculated $100 a barrel is unlikely, especially as OPEC has spare capacity of 9.2 million barrels a day. BI says that Read more »