Crude Oil Prices on the Rise?
Posted on: 03/02/2015

Speculation amongst investors has intensified concerning the possibility that the recent decline of crude oil prices may finally have bottomed out and stabilised following months of uncertainty.

The price of Brent crude oil was up 1.3% at $53.65 a barrel, reaching a high of $55 and US oil also increased by 1.7% to $48.52. This followed the acknowledgement that leasing of UK oil rigs was slowing, signalling that producers were preparing to reduce output. Recent reports show that on the previous Friday a total of 90 US oil rigs were stationary, the highest number be out of action in a single day in over 30 years.

With an evident slow down in production, the price of oil experienced a boost on Monday, acting as a marginal catalyst for oil and gas company share prices. Tullow Oil rallied almost 7% and BG Group experiencing a 5% rise; a positive indicator which some financial and market analysts are calling “the foundation for a steady price recovery in the second half of the year”.

For up to date oil and gas news please follow us on @BlueprintOnG, and please have a look on our vacancies page for a full list of jobs we are currently recruiting for.

Vacancies By Email

Get There First With Vacancies By Email

Get specific job types, tailored to your requirements, sent straight to your inbox as soon as they are available. Register Now »

Latest Oil & Gas Jobs

Material and Corrosion Engineer Permanent | Kingston upon Thames, Surrey, England | £60,000 Per Annum

We have a brilliant opportunity for a Material and Corrosion Engineer to join a global leader in the Oil and Gas Industry on a permanent basis in Kingston.
Read More »

Risk Engineer Permanent | Kingston upon Thames, Surrey, England | £60,000 Per Annum

Due to an the award of new Projects, our client- a highly respected consultancy within the Oil and Gas sector- is seeking a Risk Engineer on a staff permanent basis, based in the South West London / Surrey area.
Read More »

Junior Project Manager Permanent | Kingston upon Thames, Surrey, England | £50,000 Per Annum

Due to an increased workload, our client- a highly respected consultancy within the Oil and Gas sector- is seeking a Junior Project Manager on a staff basis, based in Surrey.
Read More »

Materials Corrosion Engineer Permanent | East Molesey, Surrey, England | £65,000 Per Annum

We are currently seeking a Materials Corrosion Engineer to join a specialist contractor within the Oil & Gas industry on a permanent basis in East Molesey.
Read More »

Administrator Permanent | Aberdeen, Aberdeen, Scotland | £23,000 Per Annum

We have an excellent opportunity for an Administrator to join a leading oil & gas company on a permanent staff basis located in (North) Aberdeen.
Read More »