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Norway considers historic oil cuts

For the first time in nearly 20 years, Norway could be about to lower its oil output. This occurs at a time when the country was otherwise expected to increase production.

Photo: INTS KALNINS/REUTERS / X02120

A price war and a pandemic are currently putting pressure on the oil market – which could now see consequences for western Europe's largest oil nation.

Norway's Minister of Petroleum and Energy Tina Bru currently considers dialing down the country's oil output for the first time since 2002, writes Bloomberg.

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