North Sea Brent
Definition - What does North Sea Brent mean?
North Sea Brent, also known as Brent Crude is a form of oil which is one of the great trading classifications of crude oil. It is considered as a great benchmark for pricing the purchase of oil all over the world. The oil is light due to its lower density and sweet due to its small sulfur content. It is derived from the North Sea that contains Forties Blend, Ekofisk, Brent Blend and Oseberg crude. It is also used to price around a large amount of internationally commutated crude oil supplies worldwide.
Petropedia explains North Sea Brent
North Sea Brent is a type crude oil which is extracted from the North Sea. It is chiefly used as the benchmark for pricing the Middle Eastern, European and African oil that is exported to the West. The oil has a low density and consists of low contents of sulfur. It is a mixture of United Kingdom's two North Sea oils – the Ninian field crude of the British petroleum company and the Brent field crude of the Shell oil company. Brent is one of the dominant global price benchmarks for the Atlantic crude oil. It is a suitable for the production of middle distillates and petrol.