MOSCOW (Pakistan Point News / Sputnik - 17th July, 2020) Norway's average daily production of oil, natural gas liquids (NGL) and condensate fell by more than eight percent when compared to May figures and has reached 1.857 million barrels per day, the Norwegian Petroleum Directorate (NPD) said on Friday.
"Preliminary production figures for June 2020 show an average daily production of 1 857 000 barrels of oil, NGL and condensate," the NPD said in a press release.
In May, the daily production of liquid hydrocarbon amounted to over 2 million barrels per day. According to the NPD, the June figures are 4.2 percent less than the forecast.
In particular, the production of oil fell by 12 percent, from 1.753 million barrels per day in May to 1.543 million barrels per day in June.
In late April, the Norwegian Oil and Energy Ministry announced that the country would be cutting oil production from June to December 2020. Oslo plans to decrease daily oil production by 250,000 barrels per day in June and by 134,000 barrels per day in the second half of the year.
