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North Sea Crude-Forties falls to record low as demand collapses

Mon, 30th Mar 2020 17:29

LONDON, March 30 (Reuters) - North Sea Forties crude
differentials set a record low on Monday and other grades fell
again as sellers cut offers further amid a lack of demand.

MAY PROGRAMMES
* Supply of the five North Sea crude oil grades underpinning
the dated Brent benchmark will average 813,000 barrels per day
(bpd) in May, down from 940,000 bpd in April, loading programmes
show.

PLATTS WINDOW
* No deals.
* Forties: Trafigura offered an April 19-21 cargo at dated
Brent minus $3.20, the lowest since 2001 or ealier, according to
Refinitiv Eikon data.
* Brent: Glencore offered an April 9-11 cargo at dated Brent
minus $2.65, weaker than the last assessment.
* Oseberg: Vitol offered an April 18-20 cargo at dated Brent
minus $1.90, weaker than an offer on Friday.
* Ekofisk: Trafigura offered a cargo loading on April 19-21
at dated Brent minus $1.40, also weaker than Friday.

(Reporting by Alex Lawler; editing by Susan Fenton)


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