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Norway's May Oil Output Down, But Still Above Forecast

June 19, 2020

Illustration only - Image by donvictori0

Norway's oil production fell in May from the previous month but still exceeded official forecasts by 0.9%, the Norwegian Petroleum Directorate said on Friday.

The country's crude oil output fell by 2.1% month-on-month from April to 1.74 million barrels per day. The output year-on-year was up by 38.1%, thanks among other things to a ramp-up of Equinor's giant Johan Sverdrup oilfield.

Daily natural gas output fell by 12.4% month-on-month, missing the official forecast by 8.4% and was down 15.4% from a year ago.

Overall monthly gas output in April totaled 8.2 billion cubic meters. 

(Reporting by Terje Solsvik; editing by Nerijus Adomaitis)

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