08.06.2020, 15:50
Norway Will not Change Plans to Reduce Oil Production after OPEC+ Decisions
Source: OREANDA-NEWS
OREANDA-NEWS. Norway does not plan to change the existing plan to reduce oil production after the OPEC+ decisions adopted on June 6. This was reported on Monday by the American news agency, citing the Norwegian Ministry of Oil and Energy.
"OPEC+ played a key role in the current stabilization of the oil market. The latest decision of the countries participating in this format underlines their efforts in this direction at a time unprecedented for the global economy. Norway has no plans to change the measures taken by the country", the ministry said.
Earlier, the country's oil and energy minister Tina Bru said that Norway intends to reduce oil production from June to December 2020: by 250 thousand barrels per day (b/d) in June and by 134 thousand b/d in the second half of 2020. She also added that the discovery of a number of new deposits will be delayed until 2021. Thus, according to her, the total oil production in Norway in December 2020 will be 300 thousand bpd less than originally planned.
"OPEC+ played a key role in the current stabilization of the oil market. The latest decision of the countries participating in this format underlines their efforts in this direction at a time unprecedented for the global economy. Norway has no plans to change the measures taken by the country", the ministry said.
Earlier, the country's oil and energy minister Tina Bru said that Norway intends to reduce oil production from June to December 2020: by 250 thousand barrels per day (b/d) in June and by 134 thousand b/d in the second half of 2020. She also added that the discovery of a number of new deposits will be delayed until 2021. Thus, according to her, the total oil production in Norway in December 2020 will be 300 thousand bpd less than originally planned.
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