Norway's Gas Production Plunges 12.6% as Europe Heads into Winter
Norway’s oil and gas production declined sharply in September, with natural gas output falling 12.6% from August, according to preliminary figures released Tuesday by the Norwegian Offshore Directorate (NOD). Total petroleum production averaged approximately 3.77 million barrels of oil equivalent pe
Source: OilPrice.com
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DW NOTE
Norway supplied 30% of EU gas before the war. A 12.6% production drop in October — as the Strait of Hormuz closes and LNG cargoes reroute — means Europe enters winter with its largest alternative supplier in structural decline and Brent at $108. Storage levels won't matter if flows don't resume.