Norwegian October Oil and Gas Output Lags Forecasts

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Norway’s natural gas output rose in October from a four-year low in September but still lagged an official forecast, while crude oil production also fell behind expectations, the Norwegian Petroleum Directorate (NPD) said on Tuesday.

Natural gas production in October rose to 328.1 million cubic meters (mcm) per day from 199.1 mcm a month ago, but missed a forecast of 354.7 mcm by 7.5%, the regulator said on its website.

Crude oil output rose to 1.78 million barrels per day (bpd) in October from 1.68 million bpd in September, below a forecast of 1.84 million bpd, NPD’s preliminary data showed.

(Reuters – Reporting by Nora Buli, editing by Terje Solsvik)

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