...

Norway will soon decide on potential output cut

Europe Materials 13 April 2020 15:49 (UTC +04:00)
Norway, Western Europe’s largest oil producer, will soon decide whether to slash its output and thus aid a global effort to shore up crude prices
Norway will soon decide on potential output cut

Norway, Western Europe’s largest oil producer, will soon decide whether to slash its output and thus aid a global effort to shore up crude prices, the energy minister said on Monday, Trend reports with reference to Reuters.

“The agreement among the OPEC+ producer nations is very positive,” Minister of Petroleum and Energy Tina Bru said in an emailed statement to Reuters, adding that Norway will draw its own conclusion on potential cuts “in the near future”.

Norway’s crude output stood at 1.75 million bpd in February, up 26% from a year ago. Including condensate and natural gas liquids (NGL), the oil liquids production was 2.1 million bpd, corresponding to around 2% of global output.

Tags:
Latest

Latest