OAG360 Publishers Note: Oil prices suffer amid this deal, with over $1.50 wiped out within minutes of this accouncment, with prices now around $40.68. International supply outlook wins again
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Norwegian oil firms have struck a wage bargain with labour union officials, ending a strike that had threatened to cut the country’s oil and gas output by close to 25% next week, negotiators for each side told Reuters on Friday.
Six offshore fields shut on Monday and a further seven had been scheduled to follow in the coming days, with the oil and gas outage set to grow to 966,000 barrels of oil equivalent (boed) by Oct. 14, the industry had said.
