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Minister: Norway will soon decide on potential output cut

13 April 2020 15:09 (UTC +04:00)

Norway, Western Europe’s largest oil producer, will soon decide whether to slash its output and thus aid a global effort to shore up crude prices, the energy minister said on Monday, APA reports citing Reuters.

“The agreement among the OPEC+ producer nations is very positive,” Minister of Petroleum and Energy Tina Bru said in an emailed statement to Reuters, adding that Norway will draw its own conclusion on potential cuts “in the near future”.

Norway’s crude output stood at 1.75 million bpd in February, up 26% from a year ago. Including condensate and natural gas liquids (NGL), the oil liquids production was 2.1 million bpd, corresponding to around 2% of global output.