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The Curious Case of Norway’s 60 Million Barrels of Missing Oil

  • Forecast slashed after production rose during market slump
  • Maintenance, technical issues, delays, among explanations
On Board Troll A Off-Shore Gas Platform Operated By Equinor ASA
Photographer: Carina Johansen/Bloomberg
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Norway has built a reputation as one of the calmest and most predictable corners of the global oil industry, but lately it’s been full of surprises.

During the worst downturn in a generation, from 2014 to 2016, companies would regularly exceed official forecasts as oil production rose in defiance of falling prices. More recently, with crude surging back to multiyear highs, they’ve run into trouble.