Two from OilPrice. First up, August 20:
- Norway’s crude output fell nearly 10% year-over-year to 1.776 million bpd in July, while total liquids dropped 9.1%.
- The decline comes at a sensitive time, with 8.3 million bpd of Gulf production shut in and markets increasingly reliant on secure non-Gulf supplies.
- The weakness may be temporary, reflecting summer maintenance and a strong 2025 comparison, making Norway’s next production report particularly important.
Norway’s crude oil production averaged 1.776 million barrels per day in July, according to preliminary figures from the Norwegian Offshore Directorate.
The country also produced 183,000 barrels per day of natural gas liquids and 17,000 barrels per day of condensate, bringing total liquids production to 1.976 million barrels per day.
The year-over-year comparison is striking. Norway produced 1.971 million barrels per day of crude in July 2025, according to the Directorate’s latest revised figures. Crude output was therefore down by approximately 195,000 barrels per day, or nearly 10%....
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And August 24:
Norway Vows to Keep Drilling for Oil and Gas in the Arctic
Norway plans to continue exploring for oil and gas in its Arctic waters in the Barents Sea regardless of whether the European Union supports or lifts a moratorium on Arctic drilling, Norway’s Energy Minister Terje Aasland told Reuters.
Norway, not an EU member but a close ally and the single biggest gas supplier to Europe, pursues increasing its oil and gas supply to meet demand in Europe, which has had to contend with the bans on Russian oil and gas imports amid two energy crises in four years.
The EU, for its part, currently has a moratorium on drilling for oil and gas in the Arctic.
The EU’s moratorium on Arctic drilling was enacted in 2021 due to the bloc’s climate commitments and environmental concerns. The ban does not allow drilling in Norway’s northern parts of the Barents Sea, which is estimated to contain most of the remaining Norwegian oil and gas resources....
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Economics is the study of choice.
