Few Norwegian companies that have any exposure to the offshore oil and gas sector started 2015 in buoyant mood, thanks to the steep fall in oil prices in late 2014. The falls continued in early 2015 and will have serious consequences for Norway's economy, which obtains around a quarter of its output from oil and gas. Norway's economy is likely to remain under pressure until Brent crude rises back above the US$70 a barrel mark, say Norwegian financial experts, and investment in oil could fall over the next three years, sliding as much as 15 per cent this year, it is claimed.
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