Norway’s Oil Output Rises In February

Oil

Norway’s oil output in February increased by 55K b/d m-o-m and 52K b/d y-o-y to 1.68M b/d, according to the Norwegian Petroleum Directorate (NPD). Looking ahead, the NPD forecasts that production may decline from February through March, April and May and could be down by almost 100K b/d in the latter month compared to February levels.