NORTH SEA PRODUCTION HITS RECORD IN OCTOBER
North Sea oil production surged to an all time high in October, averaging 4.94 million b/d. This was driven by record output from Norway and Denmark and a resurgence in U.K. production. Surging North Sea production has been cited as a key factor in a worldwide crude surplus blamed for the recent slide in oil prices (OGJ, Dec. 6, Newsletter). North Sea natural gas flow also registered big gains in the period.