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Norway's December Oil Output Misses Forecast

By  AOG Staff Tuesday, 22 January 2019 02:48
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Norway's oil production fell by 2.1 percent year-on-year in December and lagged the Petroleum Directorate's forecast for the month by 2.5 percent amid technical problems at some offshore fields, the industry regulator said on Monday.

© AValeri Belov / Adobe Stock
© AValeri Belov / Adobe Stock

December natural gas output fell by 2.5 percent year-on-year, lagging forecasts by 3.6 percent, it added.

Norway recently predicted its 2019 oil output would fall to a 30-year low, although it is expected to rebound next year following the start-up later this year of the giant Johan Sverdrup oilfield.

(Reporting by Terje Solsvik, editing by Gwladys Fouche)

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