Norway May Oil & Gas Output Down But Beats Forecast

© Lukasz Z / Adobe Stock
© Lukasz Z / Adobe Stock

Norway's natural gas output fell in May but still beat an official forecast, while crude oil production also exceeded expectations despite overall lower volumes, the Norwegian Offshore Directorate (NOD) said on Thursday.

Natural gas production in May fell to 322.6 million cubic metres (mcm) per day from 346.8 mcm a month ago, but exceeded a forecast of 315.4 mcm by 2.3%, the regulator said on its website.

Crude oil output fell to 1.69 million barrels per day (bpd) in May from 1.84 million bpd in April, but came in 2.9% above a forecast of 1.64 million bpd, NOD's preliminary data showed.

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

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