North Sea June Brent Crude Exports Drop to Five CargoesSherry Su and Rupert Rowling
Exports of North Sea Brent crude for June are planned at five cargoes of 600,000 barrels each, one less than this month, a loading program obtained by Bloomberg News showed.
There are no consignments set to load next month until June 14, the plan showed. The reason for the two-week gap in the schedule is not yet known, according to a survey of four traders with direct knowledge of the loading program.
Jonathan French, a London-based spokesman for Royal Dutch Shell Plc, the operator of the Brent field, declined to comment either on loading or maintenance schedules when contacted by Bloomberg News today.
Brent is one of four North Sea oil grades that make up the Dated Brent benchmark, which is used to price crude from the Middle East, Africa and Russia. June plans for the other three blends, Forties, Oseberg and Ekofisk, are also scheduled to be issued to traders today.
Loading programs are monthly schedules of crude shipments compiled by field operators to allow buyers and sellers to plan their supply and trading activities.