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Norway Votes in Close Parliamentary Race With Labour Holding Narrow Edge

The result could shape Norway's energy policy, with implications for its $2 trillion wealth fund.

Overview

  • Voting concludes at 1900 GMT on Monday in Norway’s two-day parliamentary election, with 19 levelling seats likely to influence the final balance in the 169-seat Storting.
  • Polling averages indicate Labour and four smaller parties near 88 seats versus about 81 for a bloc led by the Progress Party and the Conservatives, a gap within the margin of error.
  • The Progress Party is polling around 21% support, ahead of the Conservatives near 14%, reflecting a right-wing shift that has fueled tensions over who would lead a potential right-leaning government.
  • Labour could require support from the Greens or the Red Party in addition to the Centre Party and Socialist Left to govern, pointing to a broader and more ideologically mixed coalition.
  • Cost of living, taxes and public services dominated the campaign, and the outcome carries consequences for oil and gas policy, European power supplies and management of the sovereign wealth fund.