Value Oils News

 The Organisation of Petroleum Exporting Countries (OPEC) will reduce output to a range of 32-33m barrels per day which is nearly a 1m barrel decrease. OPEC members reached an agreement yesterday on the oil production-limiting deal. This will have a massive impact on the price you pay for your home heating oil! The US Dollar (USD) also fell against the Norwegian Krone with Norway being a major cr… Read more

Donald Trump. The mere mention of his name these days is enough to conjure up an opinion; good, bad or worse. But what could he do for the oil industry? Could one man affect the price you are paying for your domestic heating oil. There are suggestions that the oil industry is one of the things he could be very good for. He supports further deregulation of the oil market which, among other things, … Read more

News for heating oil users: The UK could be set for one of the coldest winters on record. Although we see reports like this quite often, there seems to be quite a bit of backing for reports that this Winter could be a cold one, with the MET Office also suggesting that it could be a cold winter. The Telegraph are reporting that: “Britain braced for long, snowy winter as strongest El Nino sin… Read more

So far, 2015 has seen oil prices plunge significantly against 2014 prices and lows of around $45 per barrel were reached in January 2015. Oil Prices then stabilised at around $55 – 60 per barrel from February – May 2015. Since then however, prices have been declining again and at the time of writing are just below $45 per barrel – 6 ½ year lows. These lower prices are great news for our cus… Read more

As many heating oil users will know, heating oil prices hit a 5 year low in January 2015, with prices reaching around $45 per barrel, falling from around $120 per barrel in the previous summer – great news for our heating oil customers. Prices tumbled due to a number of reasons, but in particular, fracking carried out across the US massively increased supplies.  Despite these increased supplies… Read more

Good news for heating oil users has continued throughout November 2014 as heating oil prices declined by almost 10% from the beginning of the month.  In some areas of the UK 900 litres is now below £400 – a significant decrease, especially when the price has fallen from over £500 at the same time last year. There are a number of factors which have resulted in falling prices and we examine… Read more

ValueOils.com customers in Northern Ireland may have recently received an e-mail detailing our new pricing policy. This change is part of our plan to combat fuel poverty, an issue we previously addressed and considered plans for solving on our blog. ValueOils.com’s new pricing policy is a solution to the problems posed previously that will break ground in providing the most affordable fuel possi… Read more

In March 2013, the Scottish Government announced that they would be holding a referendum to decide if Scotland should become an independent nation. The referendum is due to be held on 18th September 2014 and could have implications for the exchange rate, North Sea Oil and Gas reserves and the economy.  As well as this, Scottish voters must also consider changes in taxes, pensions and savings. Sco… Read more

Fuel poverty has long been recognised as a problem in society.  It is generally assumed that a home spending more than 10% of its income on heating is in fuel poverty, though the actual definitions have recently changed slightly.  You can read more about official government fuel poverty statistics by clicking here. Causes of Fuel Poverty Fuel poverty has unfortunately become an increasingly comm… Read more

The term ‘Fracking’ has recently been seen in UK headlines and reported in the news after protests took place in the village of Balcombe in West Sussex.  Until recently, fracking was a term that not many people were familiar with – and there are different theories on the pro’s and con’s of fracking.  Here we investigate the 5 W’s of fracking. Who is fracking? Almost half of the world… Read more