Market Eye: North Sea Prices Resilient in Face of Global Surplus

摘要

Crude price differentials in the North Sea are proving resilient to the massive global supply pressure, which has sent other grades, such as West African and Russian exports, to multiyear lows or worse. The fundamental picture shows a worldwide imbalance of 2 million barrels per day, with supply at 98.26 million b/d and demand at 96.19 million b/d, according to Oil Market Intelligence data.