OSLO (Reuters) – Norway, Western Europe’s largest oil producer, said on Saturday the country was still considering cutting oil production if the OPEC+ group implemented its plan.
“How any potential output cut will be carried out by Norway, and the size of it, we will have to come back to,” Minister of Petroleum and Energy Tina Bru said in an emailed statement to Reuters
Efforts by top oil nations to reach a deal on cuts of up to 15 million barrels of oil per day (bpd) hit a roadblock on Friday when Saudi Arabia and Mexico failed to agree during a G20 meeting of energy ministers.
But the meeting, in which Bru participated, had still provided important context, she said.
Norway’s crude output stood at 1.75 million bpd in February, up 26% from a year ago. Including condensate and natural gas liquids (NGL), the oil liquids production was 2.1 million bpd.
(Reporting by Nerijus Adomaitis, writing by Victoria Klesty, editing by Terje Solsvik and Toby Chopra)
