Norway's Oil Output Beats Forecasts as Hormuz Traffic Stays Near Crisis Lows
Norway's crude oil production beat official forecasts in June as offshore fields returned from seasonal maintenance, delivering a stronger-than-expected increase in supply at a time when global markets remain focused on disruptions to Middle Eastern exports. According to preliminary figures released
Source: OilPrice.com
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DW NOTE
Norway picked up OPEC's slack while the Strait of Hormuz barely functions — output exceeded forecasts even as shipping traffic stays depressed. When one cartel fumbles supply discipline, non-members collect the windfall.