David Blevings, spokesperson for NIOF said, “Oil prices are falling sharply on the back of decreasing demand and increasing stocks. With most countries introducing isolation tactics and closing non-essential businesses we are starting to see signs of distress in the oil market with oil stocks surging and demand falling sharply. The drop in price is … Read moreOil price drop is good news for oil consumers says NIOF
David Blevings, spokesperson for NIOF said, “During this challenging period oil deliveries are continuing as normal. Oil distributors and their employees are deemed key workers and service is continuing as normal. Due to the high demand consumers may experience a short delay in their delivery but rest assured, the industry is working flat out to … Read moreOil deliveries continue as normal but please observe social distancing says NIOF
David Blevings, spokesperson for NIOF said, “Oil prices are now falling on the back of the breakdown in talks between Russia and OPEC. OPEC were allegedly attempting to introduce a supply cut to the global oil market but Russia has said no and may have embarked on a price war with the Saudis. We are … Read moreOil price drop is good news for oil consumers says NIOF
After the recent drone attack in Saudi oil prices are spiking in anticipation of a potential reduction in global oil supply. David Blevings, spokesperson for the Northern Ireland Oil Federation said, “The recent attack on the Saudi oil infrastructure is pushing prices higher. However, the Saudi Government has announced that it will make up any … Read moreOil Prices post gains after Saudi attack
Responding to last week’s article in the Derry Journal that claimed that “Derry and the poor are paying more for oil”.David Blevings, spokesperson for the Northern Ireland Oil Federation (NIOF) said, “Contrary to the article, oil prices are actually moving lower and we have seen up to 5ppl knocked off retail home heat costs this … Read more“Oil prices moving lower is good news for consumers”, says NIOF”
The NI Oil Federation has advised that oil prices are rising on the back of global events. David Blevings, spokesperson for the Federation said, “Unfortunately the instability and concern around the Trump decision to withdraw from the Iran deal has made traders nervous and is adding a premium to crude oil prices. In turn this … Read more“Oil price rise on geopolitical tensions”, says NIOF
David Blevings from NIOF said, “We are seeing an increase in local fuel prices. This is a result of inflated crude and wholesale fuel prices due to the current round of sabre rattling in the Middle East. Any sign of discontent in this region is usually bad news for oil prices as the threat of … Read moreMiddle East tensions push oil price higher