Norway reduces the oil extraction forecasts.

Norway,the Scandinavian country, occupying the first place in the oil extraction in Western Europe, will be forced to revise its long-term estimates for the oil extraction towards lower values, the Norwegian Petroleum Directorate (NPD) concluded. The Bloomberg agency quoted a statement of Bente Nyland, the Norwegian Petroleum Directorate Director, ("Norway to Cut Oil-Production Forecasts as Costs Delay Projects"):

Some [costs] reduction is planned. We are talking about the fiscal discipline, it's a matter of cost control. There is quite a large discrepancy between what is beneficial to the society, and what is beneficial to the corporations. This is one of the main problems in this situation".