NORWAY DATA: June crude output up 1%, remains down vs YTD average

Quantum Commodity Intelligence - Norway's oil production rose 1% in June to 1.674 million barrels per day (bpd) 3.6% below forecasts, according to Norwegian Petroleum Directorate data released Wednesday

The figure also remains depressed compared to an average monthly figure of 1.75 million bpd for the first half of the year, the directorate said.

Production had increased slightly ahead of schedule this year as targets for the Johan Sverdrup field were brought forward and June production was 59% up on the same month in 2019.

Total liquid production in June, which includes natural gas liquid and condensates, was 1.883 million bpd, also up 1% on the month, but down 6.3% versus the forecast.

Gas production was 246.3 million cubic metres per day, a drop of 12.1% from May, 21% from June 2019, and down 13.6% versus the forecast.