Norway's Oil Output Beats Forecasts Again Despite Pullback from April Highs

Norwegian petroleum production eased in May after April's exceptionally strong performance, but the country's offshore sector continued to outperform expectations.

Crude oil production came in 7.2% above official forecasts even as both oil and gas output declined from the previous month, reinforcing Norway's position as one of Europe's most reliable energy suppliers.

Norway produced an average of 1.722 million barrels of crude oil per day in May, according to preliminary figures from the Norwegian Offshore Directorate.

While that was down from…