Oil prices nosedive as recession fears rise across developed economies July 5, 2022 Oil prices have plummeted a whopping $10 across both benchmarks, as recession fears curtailed demand and drove down prices.
Johnson urges OPEC to boost oil production to ease cost-of-living crisis July 4, 2022 Prime Minister Boris Johnson has urged the world's largest oil cartel to produce more oil to drive down prices and alleviate the cost of living crisis,
Huge traffic jams expected on Monday from hell: Drivers urged to work from home as protestors plot to block key roads July 4, 2022 Roads in various parts of the country could be subject to traffic jams today as protesters take action and call for a cut in fuel duty. Protests will target mainly three-lane motorways and see slow-downs on two lanes, leaving the fast lane free, according to FairFuelUK founder Howard Cox. Police have warned of “serious disruption [...]
OPEC+ to avoid pledges to further boost oil output despite Western pressure June 30, 2022 Western hopes for more oil are dwindling, as the world's most influential cartel refuses to commit to September supply increases.
UK cuts oil imports from Russia after Ukraine invasion as Norway establishes energy dominance June 29, 2022 Imports of Russian oil have tanked this year, following the country’s invasion of Ukraine with traders seeking alternatives after Western sanctions.
Oil round up: G7 stops short of unveiling mooted oil price cap while OPEC revels in rising revenues June 28, 2022 The G7 has stopped short of banning the transport of Russian oil above a certain price, and will instead just explore the option.
Oil prices slump as recession fears rise June 23, 2022 Oil prices continued to decline this morning across both major benchmarks, weighed down by the growing risk of a recession.
Sunak praises North Sea oil and gas industry despite imposing windfall tax June 22, 2022 Rishi Sunak has reaffirmed his support for the North Sea oil and gas industry, labelling it “the foundation of the UK’s energy supply/"
Petrol prices climb to new records despite dip in oil prices June 20, 2022 Petrol prices hit a new record yesterday, despite a fortnight of falling wholesale costs, triggering intense criticism from UK motoring groups.
Western sanctions struggle to hit Russian revenues, reveals IEA report June 15, 2022 Higher crude oil and fuel prices allowed Russian revenues to climb in May, revealed the International Energy Agency in its latest report.