Oil Falls With Norway Strike Set to End After Successful Talks
- Strike had shut down about 8% of Norway’s oil and gas output
- Brent dips on Friday, but posts largest weekly gain since June
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Crude prices slid after oil workers in Norway called off a strike that had shut down about 8% of the country’s production.
Futures in London and New York both fell over 1% on Friday. The settlement will restore production at six fields already shut down by the dispute and prevent an escalation to another six. It also averts the shutdown of Norway’s largest oil field, the 460,000 barrel-a-day Johan Sverdrup facility.