Summer maintenance affects North Sea crude oil production and prices - Today in Energy - U.S. Energy Information Administration (EIA)

Summer maintenance affects North Sea crude oil production and prices - Today in Energy - U.S. Energy Information Administration (EIA):

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North Sea Brent is an important global benchmark crude oil that is used to price many different crude oils produced around the world, such as Bonny Light from Nigeria and Sahara Blend from Algeria. Each summer, maintenance on offshore production platforms and pipelines in the North Sea temporarily reduces the supply of North Sea crude oil, which affects the price of the Brent benchmark. The spot prices for four distinct North Sea crudes—Brent, Forties, Oseberg, and Ekofisk—together determine the global benchmark Brent price, and a disruption to any one of these streams affects the overall Brent benchmark price and the price of any crude linked to the benchmark.

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