Reported 11 months ago
The largest feeding oil field for North Sea Forties crude, Buzzard, has unexpectedly shut down, which is expected to ease a surplus in the market. The unplanned shutdown has led to lengthy delays in Forties cargoes for June loading, potentially helping to alleviate a supply glut. The field's shutdown is impacting Forties crude production and quality, with its share dropping significantly and its density becoming lighter, affecting refineries' production capabilities.
Source: YAHOO