Norway Oil Minister Says Oil-Production Cuts Are Working

The transcript discusses Norway's oil production cuts in response to global market conditions, particularly the pandemic. Norway's cuts are independent but aligned with OPEC's actions to stabilize the market. The discussion covers the impact of these cuts on market stabilization, the current surplus in oil inventories, and the gradual recovery of demand as countries reopen. Norway's participation in OPEC meetings as an observer is also mentioned, emphasizing its independent decision-making in resource management.

What factors are affecting the demand side in the oil market according to the text?

What was Norway's position regarding OPEC's invitation to participate in production cuts?