Norway's October Oil, Gas Output Lags Forecast

November 22, 2022

©Lukasz Z/AdobeStock
©Lukasz Z/AdobeStock

Norway's crude oil and gas output rose in October from September but lagged official forecasts, preliminary data from the Norwegian Petroleum Directorate (NPD) showed on Tuesday. 

Crude oil output rose to 1.75 million barrels per day (bpd) in October from 1.64 million bpd in September, compared to a forecast of 1.88 million bpd, the NPD said. 

Natural gas production in October averaged 316.1 million cubic metres (mcm) per day, up from 303.3 mcm per day in September, but below the expected 352.4 mcm per day. 

The full-month gas output rose to 9.8 billion cubic metres (bcm) from 9.1 bcm in September, NPD said. 

(Reporting by Nerijus Adomaitis, editing by Terje Solsvik)



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