Wednesday, August 10, 2011

"North Sea oil output to rise in Sept'"

Reuters:
LONDON, Aug 10 (Reuters) - North Sea oil output is scheduled to rise by 19 percent in September due to a reduced impact on supplies from maintenance at oil installations, expanding production from the home of the Brent oil benchmark.

Supply is set to average 1.813 million barrels per day (bpd) in September, according to provisional loading programmes cited by trading sources on Wednesday, up from 1.523 million bpd planned in August.

The prospect of higher output could weigh on the prices of crude cargoes and of Brent crude futures. Reduced supplies particularly of Forties FOT-E crude, have been supporting Brent relative to U.S. crude...

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