Norway Can Cut Oil Production Unilaterally if Global Output Deal Agreed


In an interview with Reuters, Norway’s Oil and Energy Minister Tina Bru said she was following the developments on the global market closely, and has been in contact with other oil-producing countries.

Norway may consider oil production cuts if a wide deal is agreed, the country’s Oil and Energy Minister Tina Bru said, as quoted by Reuters. 

Norway is Western Europe’s largest oil and gas producer. 

The next OPEC and non-OPEC oil producers’ meeting has been moved back to 9 April, an adviser to Azerbaijan’s oil minister said on Saturday.

The meeting, which is supposed to take place via video conference, was previously scheduled for 6 April.

Earlier, OPEC Secretary-General Mohammed Barkindo said that he was in constant contact with the OPEC+ countries, adding that most participants were ready to cut oil production.

The oil market has been in turmoil since early March after the OPEC+ alliance failed to agree on output cuts amid the spiralling coronavirus outbreak. 


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