European winter gas-supply squeeze.
prob 0.46
severity 4.1 / 5 · revision 2026-05-10elevated · 45 European markets · gas + power + storage refill$ shortage country get NOR > stress_index: 0.16 STABLE > 3 events · 3 scenarios > refreshed 2026-05-17
BRENT $72.13/b ● TTF €44.25/MWh ● OPEC_ORB n/a SPR_US 331.2 Mb ▼ FAO_FFPI 130.8 ▼
The v3.2 stress index is a six-axis composite of energy and food exposure, geopolitical pressure, fiscal headroom, demography and supply concentration, normalised to a 0–1 scale.
Norway is now Europe's largest natural-gas supplier and a major crude exporter, with hydropower covering almost all of its domestic electricity. Hydrocarbon exports and a vast sovereign wealth fund anchor the economy. Its cold climate limits cereal output, leaving it a net food importer despite its energy wealth.
Norway is exceptionally water-rich, its hydropower reservoirs central to the power system.
| STOCK TYPE | RESERVE | DAYS COVER | STATUS |
|---|---|---|---|
| Oil · production and export capacityAs a major producer Norway holds ample crude; the relevant lever is production and export capacity rather than stored reserve. | ~2 mb/d output | 90days | STABLE |
| Natural gas · production and pipeline exportNorway is now Europe's largest gas supplier, exporting via pipeline to the UK and the continent. | ~117 Bcm/year | — | STABLE |
| Electricity · hydropower reservoirsReservoir hydropower covers almost all domestic electricity and supports exports to neighbouring grids. | very large | — | STABLE |
| Grain · emergency reserveNorway has re-established a strategic grain reserve; cold-climate cereal output covers only about half of demand. | limited | 90days | WATCH |
$ curl -s https://api.shortage.life/v1/countries/NOR | jq '.stress' > 0.16