Norway's crude oil export value reached a record high in March

金十2026/04/15 08:05

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Golden Ten Data reported on April 15 that, due to the outbreak of war in the Middle East, Norway's crude oil exports reached a record high last month, pushing the country's trade surplus to its highest level in nearly three years. Statistics Norway said in a statement on Wednesday that the value of crude oil exports in March grew by 68% year-on-year, reaching 57.4 billion kroner (about 6.1 billion US dollars), with exports totaling 56.6 million barrels. Senior adviser Jan Olav Rørhus of Statistics Norway stated: "The closure of the Strait of Hormuz caused a serious supply shock to the oil market, leading to high oil prices in March and, consequently, a record-high export value."

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On Wednesday, approximately four-fifths of the constituents in the Russell 2000 Index recorded declines. Since its peak in August, the index has dropped by 11%, falling below its 200-day moving average and entering a technical correction for the first time since March this year. Analysis indicates that with the US CPI rising more than expected and the probability of rate hikes increasing, small-cap, consumer, and transportation stocks are facing "sustained and long-term resistance."

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