Major changes are afoot in the North Sea Brent market.
Interestingly, these changes have been going on for some time, yet largely unnoticed by much of the energy community and media. The critical issues are the exceptionally low levels of investment in the Brent oil-producing region and declining stocks. Underinvestment and falling production in the Brent region relative to expanding investment and production in the US and West Texas Intermediate (WTI) region is a key part of the story in how these oil price benchmarks relate to each other.
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