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Norway raises 2018 oil price forecast by 18 pct- revised budget document

Norway now predicts an average price for its oil of 519 crowns ($64.70) per barrel in 2018, an increase of 18 percent from its October forecast of 438 crowns, the government said in its mid-year budget revision.

The Nordic country will spend less money than planned from its $1 trillion sovereign wealth fund in 2018 as growth accelerates and state income rises, the government earlier said.
Source: Reuters (Reporting by Camilla Knudsen, writing by Terje Solsvik, editing by Gwladys Fouche)

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