Norway's Oil Output Beats Forecasts Again Despite Pullback from April Highs
Rosneft Proposes Oil Firms to Refine 30% of Crude in Russia to Ease Fuel Crunch Jan-Thore is a Norwegian oil and gas expert with two decades of industry experience across a variety of roles.
For the past five years, he… Norwegian petroleum productioneased in Mayafter April's exceptionally strong performance, but the country's offshore sector continued to outperform expectations.
Crude oil production came in 7.2% above official forecasts even as both oil and gas output declined from the previous month, reinforcing Norway's position as one of Europe's most reliable energy suppliers.
Norway produced an average of 1.722 million barrels of crude oil per day in May, according to preliminary figures from the Norwegian Offshore Directorate.
While that was down from 1.952 million barrels per dayin April, production remained well above official expectations, extending a trend that has characterized much of 2026.
Data source: Norway Petroleum Directorate Total liquids production, including natural gas liquids and condensate, averaged 1.909 million barrels per day in May, compared with 2.170 million barrels per day the month before.
Despite the month-on-month decline, oil production exceeded official forecasts by 7.2%, while total petroleum production came in 2.9% above expectations.
Natural gas production followed a different trajectory.
Gas output averaged 303 million cubic meters per day in May, down from 340 million cubic meters per day in April.
Unlike crude oil production, however, gas volumes were broadly in line with official forecasts, suggesting the decline primarily reflected operational and seasonal factors rather than weaker field performance.
The latest figures highlight an important distinction in Norway's production profile.
While both oil and gas output retreated from April's exceptionally strong levels, oil production continues to consistently outperform expectations, demonstrating the resilience of the Norwegian Continental Shelf even as many mature producing regions around the world struggle with accelerating decline rates.Related: Saudi Arabia’s Decided Who Its Future Superpower Partner Is, And It’s Not the US Year-to-date production remains firmly ahead of last year.
| Product | Price | Change |
|---|---|---|
| Brent Crude | $102.14/bbl | +0.34% |
| WTI Crude | $96.90/bbl | +0.21% |
| EN590 Diesel | $846/MT | +0.18% |
| Jet Fuel A-1 | $1090/MT | +0.55% |
| Mazut M100 | $450/MT | -0.15% |
| Bitumen 60/70 | $470/MT | +0.08% |
| Sulphur Gran 99.5% | $470/MT | -0.44% |
| Urea 46% Gran | $650/MT | +1.12% |
| NPK 16-16-16 | $460/MT | -0.28% |
| Nat Gas TTF | $15.42/MMBtu | +0.92% |
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