quote: “It’s direct competition to North Sea production on many different fronts,” said Olivier Jakob, managing director at Petromatrix GmbH in Zug, Switzerland. Where U.S. exports go to Asia, “it will be more difficult for the North Sea to push some of its barrels outside of the region. It creates competition. It’s going to be a bearish factor for the North Sea market.”

Link to article: http://www.bloomberg.com/news/articles/2017-10-10/north-sea-oil-sandwiched-as-u-s-ships-crude-like-never-before