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Higher Saudi OSP's Support Sverdrup Crude

OIL

Saudi output cuts and higher OSP’s have helped boost demand for potential substitute North Sea Johan Sverdrup crude – prompting prices by $1/bbl over the past few weeks.

  • Sverdrup crude is now being purchased at 50c to $1/bbl premium over Dated Brent versus a 50c discount a few weeks ago according to Bloomberg sources.
  • Other sour grades like Forties are also benefitting versus sweet grades.
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