If Norway Went Down the Drain

Norway’s oil workers threatened to strike this past week potentially knocking between 720,000 to 2.5 million barrels per day out of the current exports of 3.2 million bpd. Norway is the world’s fourth largest crude oil exporter behind Saudi Arabia, Russia, and Iran. The Norwegian government was successful in ending the week-long strike by negotiating a settlement between employers, which include several oil majors, and workers. But what would have happened if Norway did stop exporting crude oil? Download here