Norway, Europe’s largest oil producer, will cut production by 250,000 b/d in June and by 134,000 b/d in the second half of the year as part of a broad international effort aligned with an OPEC+ agreement, the country’s oil and energy ministry said late Wednesday. Receive daily email alerts, subscriber notes & personalize your experience. Register Now The government added that the start-up of production of several fields will be delayed until 2021 in a move to try and stabilize the oil market, which has seen prices plunge to below $20/b amid a coronavirus-induced collapse in demand. The ministry said in a press release that the basis for the regulation is a reference production of 1,859,000 b/d. Thus, a cut of 250,000 b/d in June 2020 gives an upper limit for oil production […]