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ENERGY
Norway’s May oil and gas output was above the official forecast according to the Norwegian Offshore Directorate (NOD) on June 20.
- Oil, NGL and condensate production fell to 1.932mbpd in May from 2.091mbpd in April. It was forecast at 1.871mbpd by the NOD. Oil production fell to 1.689mbpd from 1.839mbpd last month but above the forecast of 1.641mbpd by 2.9%.
- Natural gas production fell to 322.6mcm/d in May from 346.8mcm/d in April, but exceeded a forecast of 315.4mcm/d by 2.3%.
- The total petroleum production so far in 2024 is about 103.2mcm oil equivalents and 3.7mcm oil equivalents higher than 2023.
Source: Norwegian Offshore Directorate
Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.
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