Norway's Aug Gas Output Exceeds Forecast, Oil Lags

September 21, 2022

Norway's crude oil output in August missed the official forecast, while gas output exceeded expectations, preliminary data from the Norwegian Petroleum Directorate (NPD) showed on Wednesday.

Crude oil output rose to 1.77 million barrels per day (bpd) in August from 1.64 million bpd in July, compared to a forecast of 1.83 million bpd, the NPD said.

Natural gas production in August averaged 332.8 million cubic meters (mcm) per day, down from 350.6 mcm per day in July but 4.5% above forecast, NPD said.

The full-month gas output fell to 10.8 billion cubic meters (bcm) from 10.9 bcm in July, the agency said.

(Reuters - Reporting by Nerijus Adomaitis and Terje Solsvik, editing by Nora Buli)



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