Brent Crude benchmark: Extraction & uses - Indian and World Geography
Q. Consider the following statements
1. Brent Crude benchmark is a used to price two thirds of the world's internationally traded crude oil supplies.
2. Brent Crude is extracted from the middle east.
Which of the above statements is / are correct?- Published on 07 Jul 15a. Only 1
b. Only 2
c. Both
d. None
ANSWER: Only 1
Brent Crude is a major trading classification of sweet light crude oil that serves as a major benchmark price for purchases of oil worldwide. This grade is described as light because of its relatively low density, and sweet because of its low sulfur content. Brent Crude is extracted from the North Sea. Brent is the leading global price benchmark for Atlantic basin crude oils. It is used to price two thirds of the world's internationally traded crude oil supplies.
