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