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/are correct?

1. Statement 1 is correct: Brent Crude is a major classification and serves as one of the primary global price benchmarks for purchases of crude oil worldwide. 2. Statement 2 is correct: Brent crude oil is sourced from oil fields in the North Sea. The benchmark originally referred to the Brent field but now includes several other fields in the region (Brent, Forties, Oseberg, Ekofisk - BFOE). 3. Statement 3 is incorrect: Brent Crude is classified as a light sweet crude oil, meaning it has a relatively low sulphur content (typically below 0.5%). However, it does contain sulphur; it is not sulphur-free. Therefore, only statements 1 and 2 are correct.