Davos:Norway has no plans to follow OPEC
Norway has no plans to follow the Organization of Petroleum Exporting Countries in cutting oil output, Prime Minister Jens Stoltenberg said Saturday.
"No, we have no plans to cut production," Stoltenberg said at the World Economic Forum in Davos, Switzerland.
However, Norway is in constant dialogue with OPEC over output decisions, our relations with OPEC always have been "pragmatic" Stoltenberg said.
At the same session Stoltenberg said that Norway plans to double its petroleum fund to around $120 billion over the coming years.
"Our petroleum fund just now is somewhere about $60 billion...and we plan to double that over the next few years," Stoltenberg told a panel on oil at the World Economic Forum in Davos.
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