Norway poised to hold crisis talks over oil price fall
Norway poised to hold crisis talks over oil price fall - FT.comSenior members of Norway’s government and central bank will hold a crisis meeting on Friday to discuss a possible stimulus package as western Europe’s biggest petroleum producer is hurt by a fall in oil prices and investment.Erna Solberg, prime minister, and Siv Jensen, finance minister, will meet Oystein Olsen, the central bank governor, in the first such meeting since the 2008 global financial crisis as the centre-right government weighs how to respond to the sharp decline in crude prices.
The meeting comes as the Norwegian Petroleum Directorate (NPD) said it expected oil investments in the country to fall by more than a fifth over the next three years. The decline would be bigger if oil prices remained at such low levels, it said. Brent crude was trading at $49.20 on Thursday, less than half its level of a year ago.Norway’s economy is one of the world’s most oil dependent....MUCH MORE
