OSLO (Reuters) – An oil workers strike in Norway could cut output by almost a quarter next week, operators said on Thursday, though the union behind the industrial action in western Europe’s biggest crude and gas producer said a resolution was possible.
In total, 966,000 barrels of oil equivalent per day were expected to go offline by Oct. 14, the Norwegian Oil and Gas Association (NOG) said, triple the level of outages so far due to the strike over pay and conditions.
The strike has helped lift benchmark Brent crude
above $43 a barrel this week and the prospect of more shutdowns was one of the factors behind a 2.6% jump on oil prices on Thursday, as well as higher gas prices.
Crude oil and natural gas liquids will account for about 70% of the planned cuts with natural gas making up almost 30%, a Reuters calculation based on Norwegian