Oil prices have fallen dramatically in one year from $105 per barrel to below 50$. Oversupply is viewed as responsible for the decline, but neither Saudi Arabia nor the Organization of the Petroleum Exporting Countries (OPEC) agrees to cut production.
Solberg said to CNBC that the change of leadership in Saudi Arabia after the death of King Abdullah was unlikely to alter the country’s oil policy, and added that she was more concerned that the new leader might continue to gradually liberalize the country’s conservative laws.
“The late king really had some reform programs that I hope will continue,” she said.
Solberg also noted how the increasing conflict between Russia and West is worrying for Norway, given its located close to Russia’s western border.
“A small country like Norway has to make sure that security and international law is abided by,” said Solberg.