Falling oil prices…

As oil prices have fallen, the need to streamline production to ensure a sustainable outlook for the oil industry has moved up the agenda.

Having just announced 300 job losses in its North Sea operations, BP’s group chief economist Spencer Dale will be among the speakers at next month’s IP Week.

Lower oil prices have not only hit those in production but also economies including those of Russia and Venezuela.

Reactions are mixed – many distributors are reporting the return of a feel good factor as customers buy their lower priced heating oil and a recent Deloitte report pointed out that as the oil consumer spends less on fuel, they will potentially spend more on other items…

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