While Norway is only the 11th largest oil producer, it also the fourth largest exporter of oil:
http://tonto.eia.doe.gov/country/index.cfmThe # 1 Importer is also the #3 producer of oil and the #1 user of oil (The United States)
The # 2 Importer is Japan, It is the # 3 user of oil.
The # 3 Importer is China, and it is the # 2 user of oil and the #5 Producer
The # 4 USER of oil is Russia, but it is the #2 producer AND #2 exporter of oil.
The # 4 Importer of oil is Germany, but only the #6 user of oil (Little domestic production)
The # 4 EXPORTER of Oil is Norway, which is not even in the top ten of Consumers of oil while it is only #11 in production.
The # 5 Importer of oil is South Korea, but it is only the # 9 Consumer of oil
The # 6 PRODUCER of oil is Mexico, but it is also the # 11 Consumer and the # 13 exporter.
The # 6 Importer is oil is India, but it is the # 5 user of oil (Declining Domestic production).
The # 7 Importer is France, but is only the # 12 user of oil
The # 8 Consumer of oil is Canada, but it is the # 7 Producer and the #15 exporter (Mostly to the US)
The # 8 importer is Spain, which is not even in the top 15 of consumers or producers of oil
The # 8 PRODUCER of oil is United Arab Emirates which is also the # 3 Exporter but not on the top ten list of consumers of oil
The #9 importer is Italy, which is only #15 consumer of oil
The #10 importer is Taiwan, again with little production but like Spain not even in the top 15 of Consumers and producers.
The # 10 Consumer of oil is Saudi Arabia, which is the # 1 producers and #1 EXPORTER of oil.
If you look at the above you quickly see how important this report is. While they are larger producers of oil, when it comes to exports it
Of the top ten oil consumers, only Russia and Saudi Arabia are exporters of oil. In addition to Russia and Saudi Arabia only United Arab Emirates beat out Norway in exports. Thus Norway's drop in production is more important then it appears on the surface when it comes to the price of oil on the International Market.