Home›Commodities›Energy›Norway crude output slips as Gulf supply crisis keeps…

Norway crude output slips as Gulf supply crisis keeps pressure on

Norwegian crude production averaged 1.776 million barrels per day in July, down about 195,000 barrels per day from a year earlier, while the IEA estimates 8.3 million barrels per day of Gulf oil remained shut in.

Reported · Written up by our desk · Energy

Norway’s crude oil production averaged 1.776 million barrels per day in July, according to preliminary figures from the Norwegian Offshore Directorate. The country also reported 183,000 barrels per day of natural gas liquids and 17,000 barrels per day of condensate, lifting total liquids output to 1.976 million barrels per day.

Compared with a year earlier, crude output fell by approximately 195,000 barrels per day, or nearly 10%. Total liquids production declined by around 197,000 barrels per day, or 9.1%, from 2.173 million barrels per day in July 2025.

The timing of the decline comes as the International Energy Agency estimated 8.3 million barrels per day of Gulf oil production remained shut in during July due to restricted traffic through the Strait of Hormuz. While global supply increased during the month, it still stood 6.3 million barrels per day below year-earlier levels, the IEA said.

Renewed hostilities and maritime disruptions also led the IEA to cut its projected third-quarter oil supply by 1.7 million barrels per day versus a prior estimate, according to the report.

Latest closeWTI crude $82.40 ▲1.4%|Nat gas $2.715 ▼0.4%

More like this

Sources