EFTA Document EFTA01367323

31 May 2015 Integrated Oil US Integrated Oils Figure 3: Norwegian growth barrels at recent high; 200 100 .1 2131 11.1 0 2. 01„ 2013 1 14 1015 1016 100 140 I 120 1 ICC 1 8° I GO 40 I 2009 2010 2011 San Dein lint Moe lawasevie. ixialiamaat ions.lainwe pojr0 But. there is a call on US onshore oil growth - the new swing producer Although we don't expect a rapid decline in Non-OPEC production, stronger than expected global crude demand will still result in a call on US ons