Norway crude output falls 195,000 bpd in July as Gulf outages persist
This digest was compiled by AI from multiple sources — links to the originals are below.
Norway's crude oil production averaged 1.776 million barrels per day in July, down about 195,000 barrels per day, or nearly 10 percent, from July 2025, preliminary figures from the Norwegian Offshore Directorate show. Total liquids output fell by roughly 197,000 barrels per day, or 9.1 percent, to 1.976 million barrels per day. The decline comes as the International Energy Agency estimates 8.3 million barrels per day of Gulf production remained shut in during July.
Key Facts
- Norway's July crude output averaged 1.776 million barrels per day, down 195,000 barrels per day, or nearly 10 percent, from July 2025.
- Total liquids production declined by 197,000 barrels per day, or 9.1 percent, to 1.976 million barrels per day.
- Month over month, crude output fell by 47,000 barrels per day, or 2.6 percent, from a revised 1.823 million barrels per day in June.
- July 2025 crude production was 9 percent above the Norwegian Offshore Directorate's forecast, making the year-over-year comparison unusually strong.
- The IEA estimates 8.3 million barrels per day of Gulf production remained shut in during July and cut its third-quarter supply forecast by 1.7 million barrels per day.
July Output Decline
Preliminary figures from the Norwegian Offshore Directorate put July crude output at 1.776 million barrels per day. Natural gas liquids added 183,000 barrels per day and condensate 17,000 barrels per day, bringing total liquids output to 1.976 million barrels per day. July 2025 crude production was 1.971 million barrels per day, so crude output fell by roughly 195,000 barrels per day, or nearly 10 percent year over year. Total liquids production declined by about 197,000 barrels per day, or 9.1 percent, from 2.173 million barrels per day a year earlier. From June, crude output decreased by 47,000 barrels per day, or 2.6 percent, while total liquids fell by 45,000 barrels per day, or 2.2 percent.
Market Significance
The International Energy Agency estimates that 8.3 million barrels per day of Persian Gulf production remained shut in during July as restricted traffic through the Strait of Hormuz limited exports. Global supply increased during the month but remained 6.3 million barrels per day below year-earlier levels. Renewed hostilities and maritime disruptions prompted the IEA to cut its projected third-quarter oil supply by 1.7 million barrels per day from its previous estimate. Norwegian crude is produced close to Europe's refining system, supported by established infrastructure and largely insulated from maritime constraints affecting Middle Eastern exports. The annual decline follows a July 2025 baseline that stood 9 percent above the Directorate's forecast, with total liquids exceeding expectations by 6.2 percent.
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Norway crude output falls 195,000 bpd in July as Gulf outages persist
