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Commodities Briefing - Categorized | Market Moves, Oil, Price Watch more

Platts to change North Sea oil price assessment

Posted on 19 March 2013

Platts will change the way it arrives at prices for the influential Brent crudes, the pricing and information service said Friday. The changes are designed to encourage trade in crudes extracted from the North Sea that separates Britain and Norway–and to ensure that sufficient volumes of oil will be available in the marketplace.
A constant supply is needed to avoid any distortion that would come from shrinking availability of the crudes. Adjustments have been required ever since supply from the first North Sea discovery, the Brent field, began to fall in the late 1990s………………………………………..Full Article: Source


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