I mean, they have oil: but do they commonly export that in the same manner as the GCC nations? Since for instance, countries like UAE, Kuwait or Oman export most of their crude oil to major markets across the world. Is it expensive to export Norwegian oil in comparison to Middle Eastern crude oil just based on geography and logistics?
I suppose the amount of oil is too small to have a significant impact on supply and prices. A large share of the GDP of OPEC countries is based on oil, such as primary extraction and shipping. Oil varies in type and quality. Crude oil needs to be refined, for example to remove impurities like other elements.