Norway's Oil Output Decline Looms Without Major New Discoveries

For over 50 years, Norway's oil and gas production has relied on large finds, with the last major discovery, Wisting, made over a decade ago. Current exploration focuses on smaller finds near existing infrastructure, sustaining near-term output but insufficient to prevent a projected decline on the Norwegian Continental Shelf. This potential long-term supply reduction could exert upward pressure on crude oil prices, indirectly impacting Pakistan's import costs and potentially influencing USD/PKR and local gold rates.

بحوالہ / Source: oilprice.com