EnergyWatch

Norway's oil and natural gas export in setback

Exports of oil and natural gas out of Norway decreased significantly in March. Even though the oil price has gone up, lower volumes weigh down, show the figures.

Photo: Ritzau Scanpix/AP/Chuck Bennett

Norwegian oil exports went down 9 percent in March compared to the month before, according to new figures from Statistics Norway.

Even though the oil price is on the rise after a protracted downturn, lower volumes have dragged down values. The price of crude oil was a total of 10.5 percent higher in March this year than in March 2017. However, the number of barrels exported went down by 36.1 million, which corresponds to a 17.6 percent drop compared to the year before.

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