Norway's July Gas Output Exceeds Forecast, Oil Lags

Credit:Lukasz Z/AdobeStock
Credit:Lukasz Z/AdobeStock

Norway's crude oil output in July lagged the official forecast, while gas output exceeded expectations, preliminary data from the Norwegian Petroleum Directorate (NPD) showed on Monday. 

Crude oil output rose to 1.65 million barrels per day (bpd) in July from 1.33 million bpd in June, compared to a forecast of 1.85 million bpd, the NPD said. 

Natural gas production in July averaged 351.0 million cubic meters (mcm) per day, up from 332.0 mcm per day in June, and above the expected 332.5 mcm per day.

The full-month gas output rose to 10.9 billion cubic meters (bcm) from 10 bcm in June, NPD said. 

(Reuters - Reporting by Terje Solsvik, editing by Victoria Klesty)

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