Norway sees oil and gas activity picking up after the market turmoil and the health crisis earlier this year, the Norwegian Petroleum Directorate (NPD) said in its first-half activity report on Friday. Norway is currently reducing its oil production by the end of the year because of the slump in oil prices in March and April. In a bid to support global efforts to prop up oil prices and ease the glut, Norway has decided it would cut its crude oil production by 250,000 bpd in June, and then maintain a 134,000-bpd lower rate of production for the rest of 2020. This is the first time Norway has joined oil production cuts since 2002. Then, Norway reduced its production rate by 150,000 bpd over the first half of the year, after oil fell below $20 a barrel following 9/11. This year, after the coronavirus crisis and the plunge in […]