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.

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