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Economy

Not So Pretty In Norway, Victim Of Plummeting Oil Prices

The sinking cost of crude has disrupted the Scandanavian country's national economy. Norwegians now start to ask how wide the hardship will spread.

The oil tanker Sten Frigg moored in Bergen, Norway
The oil tanker Sten Frigg moored in Bergen, Norway
Valère Gogniat

STAVANGER — Of course, you can find small souvenir bottles of crude oil. But there are also model offshore platforms, a quiz on Norway's energy resources and a simulated helicopter ride. But it's only at the end of a long hallway recounting the country's oil history — at Norway's Petroleum Museum in Stavanger — that there is a mention of the recent per-barrel price collapse.

The last sign of the visit says "Vanskelige Tider," or "difficult times." It reads, "The global oil markets have been through fundamental changes since the 1970s. Prices have risen, fallen, and risen again — several times. Norway is very vulnerable to these fluctuations and has little chance to influence them."

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A man walks on a tank left behind by Russian troops, on display in Kyiv’s Mykhailivska Square.

Lila Paulou, Lisa Berdet and Bertrand Hauger

👋 Hej!*

Welcome to Tuesday, which marks three months since the war in Ukraine started. Meanwhile, BoJo is in trouble again, and millionaires at Davos ask to be taxed more. Persian-language, London-based media Kayhan explores what the future of Lebanon could look like after the election defeat of Iran-backed Hezbollah.

[*Swedish]

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