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August oil production from Norway lower than expected

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Staff Writer | September 15, 2017
oil production from Norway
Oil exploration   Norway is one of the leading energy suppliers

Total oil production in August from Norway, one of Europe's main suppliers, was slightly lower than expected.

Apart from Russia, Norway is one of the leading energy suppliers to the European economy, designating nearly all of its offshore production for exports.

The National Petroleum Directorate reported preliminary figures for August at 1.55 million barrels of oil per day on average.

"The oil production is about 1.4 percent below the oil production in August last year and is about 1.6 percent below the NPD's prognosis for August 2017," the nation's regulator said in a statement.

A spokesperson for the NPD told UPI the decline was probably due to regular field maintenance.

A similar reason was given for the recent decline in oil production from Russia, a party to an effort steered by the Organization of Petroleum Exporting Countries to balance the market with managed output cuts.

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