norwegian blues

摘要

The threat of disruption to Norway’s production has passed for now. Government intervention in an industrial dispute between producers and workers ensures that around 1.7mn b/d of crude and condensate will continue to flow to world markets. No-one, it seems, guessed that political risk to oil supplies would originate in Oslo rather than Tehran this year. Crude rose by $5/bl in one day as markets awoke to the danger, helping to prolong a rebound from below $90/bl.