Norway Warns of Potential Oil and Gas Output Collapse After 2030
Source Summary
The Norwegian Offshore Directorate reports that Norway is extracting oil and gas faster than new resources are being discovered, creating a risk of steep production decline after 2030. Despite current strength—with 2025 oil production at its highest since 2009 and 2026 petroleum investment estimated at $25 billion—most current spending supports legacy projects rather than new discoveries. Sustaining production beyond this decade will require increased exploration activity.
Why it matters
Norway's warning signals a potential structural shift in global oil and gas supply, as the world's largest net energy exporter faces a production cliff that could affect energy markets and geopolitical influence.
