Norway declines comment on whether it could cut oil output

The Norwegian oil and energy ministry declined to comment on Friday on whether Western Europe's largest producer could cut its oil output to help support prices.

The Nordic country, which meets about 2% of global oil demand, restrained its oil output several times before, including in 1990, 1998 and for the last time in 2002, always in tandem with others when prices fell. "The Ministry of Oil and Energy does not want to comment on the matter at the present time," a spokeswoman said in a statement to Reuters.

Norway's crude oil production stood at 1.75 million barrels per day (bpd) in February, 26% up from a year ago thanks to the ramp-up of Equinor's giant Johan Sverdrup oilfield. U.S. President Donald Trump called on Russia and OPEC to agree on new production cuts to help a recovery in crude prices, which hit 18-year lows earlier this week.

OPEC sources told Reuters both the United States and other countries should contribute to the production cuts.