Norway's Gas Output Falls 12.6% in September as Winter Approaches
Source Summary
Norway's natural gas production fell 12.6% in September from August, with total petroleum output declining 10.4% month-on-month to 3.77 million barrels of oil equivalent per day, according to preliminary data from the Norwegian Offshore Directorate. The output fell 4% below the directorate's forecast. The decline occurs as Europe enters its winter heating season, with Norway serving as the continent's largest gas supplier.
Why it matters
Norway supplies the majority of Europe's natural gas; a sharp production decline during the approach to winter heating season directly affects energy security and pricing across the continent.
