My TL;DR:
Ministers have repeatedly claimed developing the huge oilfield off Shetland will improve UK energy security.
For example, in September, Rishi Sunak said Rosebank would help prevent young people from growing up “dependent on foreign dictators” for energy security.
Furthermore, in the king’s speech: “Legislation will be introduced to strengthen the United Kingdom’s energy security and reduce reliance on volatile international energy markets and hostile foreign regimes".
However, in a written answer to a parliamentary question, the government admits that the private companies extracting the oil will sell the vast majority internationally: “Around 80% of the oil produced in the UK is refined overseas into the products demanded by the UK market".
Alexander Kirk, of the climate justice group Global Witness, says “UK oil and gas is owned by the companies that extract it and sell it on global markets. New oilfields like Rosebank will only line the pockets of rich fossil fuel firms, it won’t help the millions of Brits that are struggling to pay their bills.”
Edit: Making title more clear.
By oil products do you mean fuel?
The article linked highlights that the government (despite their earlier claims) is now admitting that majority of this oil will end up being used to manufacture products rather than as fuel used to heat homes, power our cars, etc. So the price of fuel derived from oil will assumedly not be significantly affected (or not as much as was being claimed previously).
Maybe the price of essential/luxury manufactured products will go down but this doesn’t change the fact the government misled people as to what this oil would be used for.
Edit for clarity.