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North Sea crude output set to hit two-year high

Oil

North Sea crude output could rise to a two-year high of 2.05M b/d, up 2.4% or 48.7K b/d m-o-m, in December, Reuters reports. The largest increases in production are expected from Forties (up 25K b/d m-o-m to a near three-year high) and Ekofisk (up 90K b/d m-o-m to a more than 1-1/2 year high). Together with Brent and Oseberg, the combined BFOE fields are expected to load an average of 1.03M b/d in December, up 126K b/d from November.