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Oil and gas company Statoil gas processing and CO2 removal platform Sleipner T is pictured in the offshore near the Stavanger, Norway, February 11, 2016

Norwegian Petroleum Minister Rules Out Participation in Oil Output Freeze

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Norway has no plans to participate in oil production freezes as it "doesn’t make sense" for the country, Tord Lien, Norway's Minister of Petroleum and Energy, said Tuesday.

ALGIERS (Sputnik) – An informal meeting of 12 OPEC member states and possibly non-OPEC oil producers including Russia is expected to take place on September 28 on the sidelines of the IEF, where plans to reverse the drop in global oil prices amid ongoing overproduction would be discussed.

"For Norway to participate in the freeze just doesn't make sense, the trend [for oil prices] is downwards anyway," Lien told reporters.

In April, major oil-producing states failed to reach an output-freezing agreement in Doha, Qatar. Saudi Arabia, which had previously said that it would freeze output only if Iran followed suit, cited Tehran’s absence at the talks as reason for not supporting an output freeze.
Related:
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Algeria Expects OPEC to Decide on Oil Output Freeze at Upcoming Meeting
Iran to Be Unable to Agree to Freeze Oil Outputs Over Internal Pressure
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oil output, Norway
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