Platts issues Dated Brent Special Report
The Price Reporting Agency Platts, part of S&P Global, has recently issued a Special Report on the Dated Brent benchmark. The price of Brent crude oil from the North Sea has been used for the last 30-odd years as the pricing reference point for billions of barrels of oil – some estimates suggest that as much as two-thirds of the 95 million barrels per day of crude oil produced and traded globally is directly or indirectly linked to Brent price. The catch? Over the last decade, Brent production has declined to the point that Platts has had to use the price of other grades such as Forties, Oseberg, and more recently Ekofisk and Troll, in its calculation of the Brent price.
The Platts report: “Riding the Wave: The Dated Brent benchmark at 30 years old and beyond” can be downloaded at the link below: