Official Answer Key & Detailed Solution
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Correct Answer: Option (B) — 1 and 2 only
Concept & Option Breakdown
Standard Reference VerifiedStatement 1 is correct: Brent crude serves as a major global benchmark pricing standard for crude oil purchases worldwide.
Statement 2 is correct: Brent crude is extracted from the North Sea oil fields between Norway and the UK.
Statement 3 is incorrect: Brent crude is classified as 'sweet' crude because it has a low sulphur content (around 0.37%), but it is not completely free of sulphur.
Absolute phrase alert: Statement 3 states crude 'does not contain sulphur' (0%), which is scientifically untrue for natural crude oils.
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