OPEC Wants Norway’s Help on Oil Prices
The Organization of Petroleum Exporting Countries hinted that Norway ought to help shore up world oil prices.
“Norway is a big producer and produces more than many OPEC members. But Norway has not contributed in any way to the stabilizing of oil prices,” OPEC Deputy Secretary General Ramzi Salman told an oil price seminar.
Norway, Western Europe’s biggest oil producer alongside Britain, pumps about 2 million barrels of oil a day.
“Norway and other producing and consumer countries should contribute to a dialogue,” Salman said.
But he declined to elaborate or directly urge Norway to curb output--which Oslo has done before.
Norway ordered oil companies to pump slightly below capacity for almost four years until July 1, 1990, in an informal deal to help OPEC support prices. But the Oil Ministry has recently said it had no plans to restrain production.
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