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Brent blend is a light sweet North Sea crude oil that serves as an international benchmark grade.
Brent blend production runs approximately 500,000 barrels a day. Most is refined in Northwest Europe, but significant volumes move to the U.S. Gulf and East Coasts and to the Mediterranean from the shipping terminal at Sullom Voe in the Shetland Islands. The producing companies trade most of the volume on a spot basis with virtually no formal term contracts. |
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