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Page added on March 31, 2005

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Norway Predicts Continued High Oil Prices

Oil prices are likely to remain high, and there is nothing Norway can do to increase supplies because the nation’s offshore fields are already producing at full capacity, oil minister Thorhild Widvey said Thursday.

“I think oil prices will remain high,” she said at a briefing for Oslo-based foreign correspondents. “How high I don’t know.”

Norway, the world’s third-largest oil exporter after Saudi Arabia and Russia, has remained outside the Organization of Petroleum Exporting Countries, which Widvey said would have to provide any extra oil.
Forbes



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