Norway, Western Europe’s largest oil producer, will attend Thursday’s video conference meeting of the OPEC+ group, which is set to discuss output cuts in a bid to support prices amid the COVID-19 outbreak, the country’s oil ministry said on Thursday.
Non-OPEC Norway, which meets about 2 percent of global oil demand, will be represented by a top civil servant attending the meeting as an observer only, in line with its long established precedent.
The Nordic country has made it clear it stands ready to make unilateral cuts to its oil output if a broad deal is agreed between other major producers, but has not said how big those reductions could be.
The country’s crude oil output stood at 1.75 million barrels per day in February, up 26 percent from a year ago, the latest available data shows. Including condensate and natural gas liquids (NGL), the oil liquids production was 2.1 million bpd.