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Production worries keep oil prices high
Bad weather in the North Sea and concerns over OPEC production levels kept oil prices relatively high at around USD 46 a barrel on Friday. Some oil installations off Norway remained shut down because of severe storms.
Royal Dutch/Shell was prevented from restarting production of 140,000 barrels a day from the Draugen field in the offshore Norwegian sector. Bad weather has prevented repairs to damaged crude oil loading equipment.
Statoil, meanwhile, has begun to restore 100,000 barrels a day of production at its Snorre and Bigdis oilfields but said it "will take some time" before production can fully resume. The fields have been shut since a gas leak was discovered in late November.
Meanwhile, temperatures are expected to remain well below normal in the northeastern US next week, where heating oil is in demand.
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http://www.aftenposten.no/english/business/article948336.ece>
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