Statistical processing

Source data

Every year, Statistics Denmark obtains prices for Dated Brent from S&P Global Platts, which is a supplier of information for energy and commodity markets, as well as a source of benchmark price assessments for physical commodities.

The obtained Dated Brent crude oil price from S&P Global Platts has the classification PCAAS00 and is a crude oil price from five weighted oil fields in the North Sea; Brent, Forties, Oseberg, Ekofisk, and Troll and from June 2023, WTI Midland oil from the USA is also included.

Platts makes a weighting of the physical trades with deliveries in 10 to 30 days, based on price including delivery costs and quality differences of crude oil for the five fields and WTI Midland oil. The Dated Brent oil price from S&P Global Platts covers the price of North Sea oil and is calculated in USD. The price covers the crude oil price, specifically on trading days at 16:30 London time.

Frequency of data collection

Yearly.

Data collection

Price data is collected via a system-to-system solution.

Data validation

Price data is checked for missing prices on trading days and any data errors before calculation and publication.

Data compilation

S&P Global Platts Dated Brent PCAAS00 is calculated as a weighting of five different oil fields in the North Sea, where they are weighted to a total price based on, among other things, price, delivery costs and quality differences of oil for the five fields and WTI Midland oil. Statistics Denmark then uses the published reference price (PCAAS00) as the basis for calculating the average crude oil price during the year. The calculation is made as a simple average of the daily published reference prices.

Adjustment

No corrections are made in the statistics.