Category: Business News
Norway, the biggest oil producer in western Europe, said it would consider cutting its output if there was a broad international agreement to curb supply.
The Nordic nation, whose oil output is set to grow over the next few years, hasn’t been a part of coordinated international cuts to support prices since 2002. OPEC and other producing nations are due to meet next week to discuss a potential agreement, with Saudi Arabia and Russia indicating other producers needed to join for any deal to be reached.
“We have a dialog with key stakeholders, including other producing countries,” Petroleum and Energy Minister Tina Bru said in an email. “If a broad group of producers agree to cut production significantly, Norway will consider a unilateral cut if it supports our resource management and our economy.”
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Published: April 4, 2020