Norway’s Oil Export Earnings Surge 68% Amid Iran War
Norway's crude oil export earnings surged 67.9% year-on-year in March to a record 57.4 billion kroner ($6.1 billion), primarily driven by soaring global energy prices following the outbreak of the Iran war and the subsequent closure of the Strait of Hormuz. Oil prices averaged 1,014 kroner ($107.52) per barrel in March, the highest monthly average since September 2023. As Europe’s largest producer of oil and natural gas, the Scandinavian country exported 56.6 million barrels of crude oil in March, good for nearly 2 million barrels per day.…