Norway strike threatens to cut a quarter of oil and gas output

Six offshore oil and gas fields were shut on Monday due to strike in Norway. The issue started in September when 43 members organized by the Lederne union went on strike after mediation talks failed between the union and the Norwegian Oil and Gas Association (NOG). Monday’s escalation added 126 workers to the strike. A total of 966,000 barrels of oil equivalent per day is expected to be cut due to the strike by middle of October, triple the level so far, unless a deal can be reached to end the strike.