Brent-Rohöl: Oil and stock markets near potential lows?

Smartphones, laptops, cosmetics, furniture, heart valves, fuel - crude oil will continue to be a basic material in our everyday lives for many years to come. Too precious in the long term as a fuel or heating agent, it is indispensable in the chemical industry in particular. Crude oil is currently the most important raw material for modern industrial societies. Brent is the most important type of crude oil for Europe. (Brent Blend is actually traded, a mix mainly from the Brent and Ninian fields). Brent is light crude oil (low sulphur content). It comes from the North Sea between the Shetland Islands and Norway. From there it travels via an underwater pipeline to the Sullom Voe oil terminal on Mainland, Shetland (as does the oil from the Ninian field), and is transported onwards by tanker.

Before the pipeline and oil terminal were completed, the oil was loaded onto tankers in the North Sea from loading platforms such as the Brent Spar. It is traded in London on the International Petroleum Exchange. The two oil fields Brent and Ninian have now exceeded their production maximum (peak oil). The Brent field borders the Norwegian Statfjord field to the east; there is a transfer pipeline between the two fields. The Brent oil field is being developed by Shell UK Ltd. and Esso Exploration & Production UK Ltd. It was discovered in 1971 and has been in production since 1976, in the “Brent South” sub-field since August 1992.