Maintenance drags oil output lower for Norway

Oil production from Norway, one of the main suppliers to the European economy, turned lower last month on maintenance issues, the government said.

If Norway were a member of the Organization of Petroleum Exporting Countries, it would be the seventh-largest producer behind Nigeria. OPEC members are voluntarily trimming production in an effort to drain a surplus from the five-year average in crude oil inventories held by the world’s advanced economies, an effort supportive of crude oil prices.

The Norwegian Petroleum Directorate, the nation’s energy regulator, reported total production of oil, natural gas liquids and condensate, an ultra-light product, averaged 1.87 million barrels per day last month, a decline of 34,000 bpd from March…

 

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