Concerns about North Sea crude production are nothing new although, changing production and export trends are reshaping the traditional structure of the North Sea oil sector. Dated Brent serves as a key benchmark for the global oil market, grades such as Brent, Forties, Oseberg, Ekofisk and Troll all contribute to its price discovery mechanism. However, as North Sea production continues to decline across these grades, there is alarm from traders that insufficient supply may occur which would reduce both market liquidity and the accuracy of contract pricing.
The opinions expressed herein are the author's and not necessarily those of The Xinde Marine News.
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