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Platts to adopt month-ahead Brent assessment in Feb 2015

Reuters - UK Focus

LONDON, Sept 29 (Reuters) - Oil pricing agency Platts plans to lengthen the loading period of North Sea crude cargoes it uses in its dated Brent oil benchmark to a full month starting next February.

The move is part of efforts to boost liquidity and bolster the credibility of the global Brent benchmark in the face of declining North Sea output.

"Platts intends to move its Brent assessment processes to reflect a month-ahead schedule with effect from Feb. 2, 2015, for cargoes loading the following month," Platts said in an emailed statement on Monday. (Reporting by Claire Milhench and Alex Lawler, editing by David Evans)