Crude oil prices go up
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The Norwegian economy is growing stronger as oil prices have risen to $ 70 a barrel. The price is 40% higher than during the Christmas period. Trade on the Asian market is responsible for this big change. This trend is likely to stabilize. According to the latest information, production in Venezuela and Iran decreased, which increased the demand for the number of transactions carried out in the Northern region. According to specialists, the amount per barrel may increase to USD 100,00 - USD 120.00 within the next year.
Oil prices go up. Economy in Norway. What does Russia say?
The Russians reacted skeptically to the production cuts. According to experts and the latest analyzes, the country may again increase its oil production. Only last year, this country was the forerunner in this topic - producing and releasing 11,16 million barrels a day into the world.
Read also: The Norwegian economy continues to grow, reports the OECD
Extraction oil in Norway - Labor Says "No"
In order not to be so rosy, the fact of tensions that arose in the political path should also be emphasized. The Labor Party wants to cut oil production. Such a decision is a severe blow to the refining industry in Norway, especially in the face of such economic growth. The place that has become the target of oil extraction is now around the Lofoten Islands in Arctic Norway.
Oil prices go up.
Karl Eirik Schjott-Pedersen, head of the Norwegian Oil and Gas Association comments on the situation as follows: “The entire industry is surprised and disappointed. This solution does not provide the predictability we rely on. "
Many people are skeptical about even greater exploitation of Lofoten, given the climate change we are seeing at an alarmingly fast pace. We will follow the whole situation and monitor it on a regular basis, providing you with the latest information.
