Norway Declares Crisis in Oil Industry as Devaluation Continues
Why $30 Oil Might Be Normal
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With oil dropping below $30 a barrel, producers in western Europe’s biggest crude exporting nation are now considerably worse off than they were in the darkest hours of 2008.
Norway’s oil “industry is in a crisis now, we can’t deny that,” Bente Nyland, director general of the Norwegian Petroleum Directorate, told Bloomberg.