Norway’s Oil Output Falls M-o-M In June
Norway’s oil production in June fell by 82K b/d m-o-m to a 9-month low of 1.55M b/d, according to the Norwegian Petroleum Directorate (NPD). However, this was up by 116K b/d y-o-y. In 1H17, output averaged 1.65M b/d, 66K b/d higher than the same period last year. For 2H17, the NPD forecasts production of 1.61M b/d.