Norway's Oil Output Beats Forecasts as Hormuz Traffic Stays Near Crisis Lows Norway's oil industry has defied expectations by exceeding production forecasts and injecting some much needed stability into Europe's energy markets.
The country's crude output averaged 1. 827 million barrels per day in June, a welcome respite from the persistent disruptions to global oil flows emanating from the Middle East.
However, this is not a game changer, and it's certainly not a permanent fix for Europe's energy woes.