May production of 1.722 million barrels per day exceeds official projections despite a decline from April peaks.
Norway’s crude oil production surpassed government forecasts by 7.2% in May, averaging 1.722 million barrels per day. The figure marks a pullback from April’s record highs but underscores the country’s consistent outperformance in energy supply for Europe.
Output fell month-over-month for both oil and gas, reflecting a natural correction after April’s exceptional levels. Official forecasts had anticipated lower volumes, making the May print a positive surprise for markets reliant on Norwegian exports.
The data reinforces Norway’s role as a stable energy supplier amid regional supply concerns, though no immediate market reaction was reported.