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Sunday, September 20, 2020

Maritime Logistics Professional

November 15, 2019

Oil and Gas Ushers Norway Trade Rebound

© Anatoly Menzhiliy / Adobe Stock

© Anatoly Menzhiliy / Adobe Stock

Norway's trade balance bounced back to a surplus last month from a rare deficit in September as oil and gas output recovered, Statistics Norway reported on Friday.

The surplus for October stood at 5.9 billion Norwegian crowns ($645.22 million), and followed a deficit of 1.4 billion crowns the previous month.

September's deficit, only the third negative reading of any individual month this century, was caused by a sharp fall in natural gas exports as producers held back production amid a slump in prices.

(Reporting by Terje Solsvik)

natural gas exportsoil and gas outputTerje Solsvik
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