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Norway Lags Oil and Gas Production Forecasts

OIL

The latest oil and gas production figures from the Norwegian Petroleum Directorate show production levels lagging forecasts.

  • Crude oil output rose to 1.75 million barrels per day (bpd) in October from 1.64 million bpd in September, compared to a forecast of 1.88 million bpd.
  • Natural gas production in October averaged 316.1 million cubic metres (mcm) per day, up from 303.3 mcm per day in September, but below the expected 352.4 mcm per day.
  • The full-month gas output rose to 9.8 billion cubic metres (bcm) from 9.1 bcm in September, NPD said.

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