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Norway May gas output declines more than expected

6/20/2023

(Reuters) - Norway's crude oil and gas output fell in May from the previous month, with gas production lagging official forecast while oil exceeded expectations, Norwegian Petroleum Directorate said on Tuesday.

Crude oil output decreased to 1.77 million barrels per day (bpd) in May from 1.80 million bpd in April but came in above a forecast of 1.75 million bpd, the regulator said on its website.

Natural gas production in May fell to 274 million cubic meters (mcm) per day from 339.8 mcm the previous month and was 7.4% below to a forecast of 295.9 mcm, it added.