ShippingWatch

Nordea sees threat to Norwegian oil

The declining oil prices threaten the profitability of the oil production in Norway, while a bursting bubble in China could have serious consequences.

Oil prices have been declining since July, culminating on Tuesday when the price reached its lowest level in 16 months as crude oil was traded at USD 100.36 per barrel. The price has increased slightly in the last two days, but the generally declining oil market is a cause for concern. At least for Norwegians.

According to Nordea Markets oil analyst Tina Saltvedt, the oil price does not need to drop much further before the Norwegian oil production seizes to be profitable, according to Norwegian newspaper Dagens Næringsliv. But things could easily become much worse than that.

Already a subscriber? Log in.

Read the whole article

Get access for 14 days for free.
No credit card is needed, and you will not be automatically signed up for a paid subscription after the free trial.

  • Access all locked articles
  • Receive our daily newsletters
  • Access our app
An error has occured. Please try again later.

Get full access for you and your coworkers.

Start a free company trial today

More from ShippingWatch

Further reading

Related articles

Latest news

See all jobs