Brent Crude Oil Benchmark Undergoes Biggest Change in Decade
- Norway’s Troll grade will be included from January 2018
- First major change in more than a decade to Dated Brent
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The Brent crude price benchmark for millions of barrels of physical crude sales each day is poised for its biggest shakeup in a decade with a new grade added to the mix from January next year.
Norway’s Troll crude, which pumped more than 200,000 barrels each day last year, will from Jan. 1 be included alongside existing grades that make up the Dated Brent benchmark -- Brent, Forties, Oseberg and Ekofisk. Statoil ASA, the nation’s biggest oil company, will become the biggest holder of North Sea barrels within the benchmark, published by S&P Global Platts, according to a presentation by the price assessor its London Oil & Energy Forum on Monday.