North Sea Oil Market Sees Biggest Trading Frenzy in 16 Years
- Eight cargoes sold in the region’s key pricing window Monday
- Market faces uncertainty over OPEC+ plans and China’s demand
The processing, drilling and production platforms in the North Sea.
Photographer: Carina Johansen/BloombergThis article is for subscribers only.
The North Sea crude market just witnessed its largest trading frenzy in at least 16 years, adding to uncertainty over oil prices in the year ahead.
Eight cargoes — or about 5.6 million barrels of crude — changed hands Monday in a pricing window run by Platts, a unit of S&P Global Commodity Insights. That’s the most since 2008, when Bloomberg started compiling the data.