Norway plans to keep oil output cuts unchanged following OPEC+ extension deal

The field centre of the Johan Sverdrup oil field in the North Sea west of Stavanger, Norway. (File photo: AFP)

Norway, Western Europe’s largest oil producer, has no plans to modify its existing plans for production cuts, following the OPEC+ group’s agreement to extend a deal on record output cuts to the end of July, the oil ministry said on Monday.

“OPEC+ has played a key role in the ongoing stabilization of the oil market. Their last decision underscores their efforts in these unprecedented times for the world economy. There is no plan to change the Norwegian regulation,” the ministry said in an email to Reuters.

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Last Update: Monday, 08 June 2020 KSA 15:00 - GMT 12:00
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