OPEC AND OIL PRICES

Norway Will Not Cut Output 

Norway has followed the UK in rejecting any possibility of curbing its oil production in order to help stabilize the world market. Speaking in an interview with Reuters in Oslo on 13 December, Norwegian Oil Minister Kaare Kristiansen said that Norway could not cut back production from its North Sea fields, since huge investments had been required to develop them, but that if prices remained at their current low levels it might shelve...