Norway’s Oil Production Declines In January

Oil

Norway’s oil production in January declined by 70K b/d m-o-m and marginally y-o-y to 1.6M b/d, the lowest since September, according to the Norwegian Petroleum Directorate (NPD). The NPD’s forecast for oil output in 2017 is 1.6M b/d, up by 88K b/d from 2016.