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No cuts in Norwegian oil production

Norway will not follow suit and cut its oil production on the Norwegian shelf even though OPEC decided to cut its production as of April 1.

Sissel Edvardsen, head of information at the Norwegian Ministry of Petroleum and Energy (OED), confirmed Norway’s position to TDN Finans Thursday.

«We are taking OPEC’s cut into account, but we see no need for Norwegian cuts,» Edvardsen stated.

OPEC maintained its decision to cut production quotas to one million barrels per day from April 1 at a meeting Wednesday.

Also other non-OPEC countries have refrained from promising to follow OPEC’s decision, reported to Bloomberg News Wednesday afternoon. The countries in question are Russia, Mexico, Angola, Oman, Syria and Sudan.

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