The Norwegian oil workers' strike has shut down 240K bbl/day, or 15%, of the country's oil...

|By:, SA News Editor

The Norwegian oil workers' strike has shut down 240K bbl/day, or 15%, of the country's oil production, and 11.9 mmcf/day, or 7%, of its natural gas output, a significant cut which could push oil prices higher. The strike has affected Statoil (STO) the most; the Norwegian company shut down four new installations and says it is losing ~$25M/day.