North Sea oil output to fall in March
February total on course to be Canada Goose Jackets highest since June
By Alex Lawler
LONDON, Feb canada goose factory sale 7 (Reuters) North Sea oil output is set to fall by at least 10 percent Canada Goose Outlet in March canada goose clearance from February partly due to maintenance at Britain largest oilfield, which may cheap canada goose uk lend support to Brent oil prices.
Output from 11 of the 12 crude streams tracked by Reuters will average 1.83 million barrels per day (bpd) based on the latest loading schedules compiled on Thursday, canada goose uk outlet down from 2.08 million bpd for all 12 in February.
Swings in output from the North Sea can have a significant impact on world prices because the region is Canada Goose online home to the dated Brent benchmark, used to price much of the world physical oil and part of the underlying market for Brent buy canada goose jacket futures.
Countering lower supply, shipments of Forties crude to South Korea, a specialised trade that supports prices, may drop in coming weeks due to canada goose clearance sale maintenance at South Korean canadian goose jacket refineries, leaving more oil in northwest Europe uk canada goose outlet looking for buyers.
reported loading schedules do suggest lower output in March and this should tighten the market, said buy canada goose jacket cheap Eugene Lindell, senior crude analyat at JBC Energy in Vienna. the Canada Goose Online other hand, the Forties arbitrage would seem to be less viable.
Brent is based on four crude oils: Brent, Forties, Oseberg and Ekofisk (BFOE). They are set to pump around 871,000 bpd in March, loading programmes showed, down canada goose coats on sale from an upwardly revised rate in canada goose uk shop February of https://www.canadagoosetomall.com 986,000 bpd.
Work at the Buzzard oilfield, the canada goose uk black friday largest of the fields contributing to Forties supply, is expected to curb Forties output in Canada Goose sale March. Supply of Ekofisk and Brent will be lower because delayed January shipments increased February total.
The 200,000 bpd Buzzard field, operated by Canadian oil company Nexen is scheduled to undergo about four days of pipeline inspection and maintenance canada goose in early March, trade sources said.
Partly as canada goose coats a result of that work, Forties output is scheduled to average 368,000 bpd in March, down from a current expectation for February of 429,000 bpd.
February North Sea total is set canada goose black friday sale to be the highest since June 2012, according to monthly schedules tracked by canada goose store Reuters, when output was 2.11 million bpd.
Loading programmes are usually issued to equity holders between the 1st and 10th of each month. Reuters attempts to track significant revisions based on actual production levels.
A programme for the smallest stream tracked by Reuters, Flotta, is cheap Canada Goose not expected to emerge until next week. If Flotta loads two cargoes in March, March total would be 1.87 Canada Goose Parka Canada Goose Black Friday million bpd down 10 percent on February figure.
Brent prices still reflect a perception of uk canada goose tight supply, although the premium at Canada Goose Coats On Sale which oil for immediate delivery is trading has fallen in 2013. The first month contract was trading 91 cents above the second month on Thursday, down from $1.28 on Jan. 2.