You are here

Forget about US$100 oil coming back, says Norway

Minister says "we saw oil prices hitting US$140 a barrel, and that does not contribute to economic growth"

Mr Lien said on Tuesday that both the Norwegian authorities and the oil companies involved "have a strong belief in the possibility of finding significant resources in the Barents Sea".


THE oil market is rebalancing, but don't count on ever seeing prices at US$100 a barrel again: that's the message from Norway's petroleum and energy minister.

Brent crude has surged more than 70 per cent from a 12-year low earlier this year as a global glut shows signs of