Western Europe's largest oil and gas producer Norway said on Saturday it would consider cuts to its oil output if a wide global deal is agreed.
FILE PHOTO: People walk past Norway’s oil and energy ministry in Oslo, Norway December 18, 2019. REUTERS/Nerijus Adomaitis
“If a broad group of producers agree to cut production significantly, Norway will consider a unilateral cut if it supports our resource management and our economy,” Norwegian Oil and Energy Minister Tina Bru said in an email to Reuters. The country, which meets about 2% of global oil demand, restrained its oil output several times before, including in 1990, 1998 and for the last time in 2002, always in tandem with others when prices fell.
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