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Sverdrup Loadings Rise to 755k b/d December: Bloomberg

OIL

North Sea Sverdrup crude loadings are set to rise to 755k b/d in December – up from 702k b/d in November according to a loading program seen by Bloomberg.

  • The program consists of 22 cargoes with a combined volume of 23.4mn bbls in December vs 21 in November for a total of 21.05mn bbls.
  • Equinor said in results this week that Sverdrup "operated at plateau with high, efficient production during the third quarter continuing to be the primary driver for the increase in [Norwegian] liquid production in the third quarter and year-to-date.”
  • Platts assessed Sverdrup crude at a $1.60/bbl premium to Dated Brent on Oct. 26.
  • It’s heavier barrels have been in higher demand as Atlantic refiners aim to replace similar property barrels lost due to OPEC+ cuts while its more distillate yielding properties benefit complex refiners at present.

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