In the context of global oil prices, Brent crude oil is frequently referred to in the news. What does this term imply ? 1. It is a major classification of crude oil. 2. It is sourced from North sea. 3. It does not contain sulphur. Which of the statements

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Q: 31 (IAS/2011)
In the context of global oil prices, “Brent crude oil” is frequently referred to in the news. What does this term imply ?
1. It is a major classification of crude oil.
2. It is sourced from North sea.
3. It does not contain sulphur.
Which of the statements given above is/ correct?

question_subject: 

Current Affairs

question_exam: 

IAS

stats: 

0,108,71,15,108,28,28

keywords: 

{'crude oil': [1, 0, 1, 1], 'brent': [0, 0, 0, 1], 'global oil prices': [0, 0, 0, 1], 'sulphur': [0, 0, 0, 2], 'major classification': [0, 0, 0, 1]}

The correct answer is: 1 and 2 only. Brent crude oil is a major classification of crude oil that is sourced from the North Sea region. It does not necessarily mean that it does not contain sulfur. Therefore, statement 3 is incorrect.Sure, here`s the proof for each statement:

It is a major classification of crude oil:

Brent crude oil is one of the major classifications of crude oil, along with West Texas Intermediate (WTI) and Dubai/Oman crude oil. It is used as a benchmark for pricing more than half of the world`s oil.

It is sourced from North Sea:

Brent crude oil is sourced from the North Sea. The Brent oil field is located in the East Shetland Basin, which is part of the North Sea. The oil field is named after the Brent goose, a bird commonly found in the region.

It does not contain sulphur:

This statement is not correct. Brent crude oil does contain sulfur, although its sulfur content is relatively low compared to other crude oils. The sulfur content of Brent crude oil is typically around 0.37%, which is considered to be "sweet" crude oil.