North Sea Output To Fall, Supporting Brent

Published on Monday, 29 Oct 11:16 am

North Sea crude oil output from 12 production streams is set to fall by 1% in November as oil fields return from maintenance more slowly than expected, adding a source of support for Brent oil prices. The drop in output arises as seasonal crude demand in Europe is expected to increase and as oil firms work a popular arbitrage to sell North Sea crude to South Korea, a trend that traders say lends support to Brent prices (Reuters).

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