Norway will not attend meeting with Op

1147254The Norwegian government has declined to meet with Opec and some non-Opec producers in Vienna on 29 October.

“Norway has received an invitation, but is not attending the meeting,” the oil ministry said.

The meeting has been convened by Opec to attempt to win non-Opec collaboration in a proposed period of production restraint intended to speed a rebalancing of the oil market that Opec believes is being hampered by high inventory levels.

Opec has not issued a list of invitees. Russia, which has been in discussion with Opec over potential action to speed market rebalancing since early this year, has said it will send a high-level delegation.

Oman will also attend. Azerbaijan has already said it will not increase its oil production for now.

In 1998, Norway did offer limited support to an Opec output cut in which non-Opec Mexico also participated.

(Argus)