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Brent oil production to disappear… WSJ

You are here: Home / Commodity Research / Brent oil production to disappear… WSJ

December 2, 2019 by Jim Colburn Leave a Comment

Sarah MacFarlane, Wall Street Journal, discusses the decline of Brent oil production while the benchmark lives on, here…

”The world’s most famous oil and gas field—and the backbone of global crude pricing—has dried up. Soon the Brent benchmark will have no Brent oil.

Royal Dutch Shell RDS.B -0.86% PLC is expected next year to plug the last remaining Brent oil wells, located in the North Sea’s East Shetland Basin, about 115 miles northeast of Scotland’s Shetland Islands. The closures mark the end of an era, as the industry shifts its focus to smaller oil finds near existing infrastructure.”

However, the benchmark lives on:

”The Brent benchmark will keep its name and increasingly represents a blend of North Sea crudes, with the potential to include oil from other locations in the future.”

 

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Commodity Research Group (CRG), founded by veteran analyst Edward Meir, is an independent research consultancy specializing in base and precious metals, as well energy products. The Group provides research and general price analysis for these markets, along with advice to companies seeking to construct commodity hedging strategies.

Our associates bring decades of experience to the table, as they seek to help our clients understand the markets. CRG will distill the myriad of pricing variables mentioned above into coherent research that is to-the-point and tailored to a clients hedging or pricing needs. In addition, CRG is available for consulting assignments and speaking engagements. CRG does not manage money or trade for itself.

 


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