Norway's oil output faces long-term decline as exploration shifts to small near-field finds

Norway's oil and gas production, historically driven by large discoveries, is projected to decline as exploration focuses on smaller near-field finds. The last major discovery, Wisting, was over a decade ago, and current strategy sustains output only in the near term. This signals a structural supply constraint for a key European energy supplier, potentially tightening global markets in the long run.

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