Oil price news

Oil prices stopped rising on Wednesday as the market started realising that crude storages continue to fill, after days of prolonged gains.

The OGA has said that the North Sea oil and gas industry should go considerably faster and farther in reducing its own carbon footprint, or risk losing its social licence to operate.

Oil prices rose on Tuesday as lockdowns start to ease globally and traffic fuel consumption, among the main reasons demand has fallen, increases.

Oil prices fell on Monday, despite the OPEC+ cuts.

Rystad Energy’s Head of Oil Markets, Bjornar Tonhaugen, has said that Norway's decision to cut production could be a good example for other producers outside OPEC+.

The oil price has reversed morning losses and now enjoys limited gains.

Oil prices have declined for a second day on storage concerns.

Nigeria’s state oil company has delayed publishing its future oil export plans as it negotiates with local companies and international majors about how to cut output.

Rystad Energy’s Head of Oil Markets, Bjornar Tonhaugen, has said that oil prices will likely continue falling until significant upstream shut-in volumes commence.

As enthusiasm subsided and prices fell again today, Rystad's Energy Head of Oil Markets, Bjornar Tonhaugen, has commented on developments.