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Oil fund's value during each prime minister's tenure

Every prime minister since 1991, ranked by how oil fund's value changed from their first day in office. Politare shows what happened during a tenure; it does not claim the office-holder caused it.

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Tenures
Period
Order
#Prime ministerIn officeTotalPer yearChart
1 Jens Stoltenberg 17 Oct 2005 – 16 Oct 2013 +276% 2004 → 2012+18.0%/yr
2 Erna Solberg 16 Oct 2013 – 14 Oct 2021 +186% 2012 → 2020+14.0%/yr
3 Kjell Magne Bondevik 19 Oct 2001 – 17 Oct 2005 +163% 2000 → 2004+27.4%/yr
4 Jonas Gahr Støre 14 Oct 2021 – now +102% 2020 → 2026+13.0%/yr

Sorted by total, highest first. Every row is indexed to the last count complete before the first day in office ("from" marks a start that had to move because that count had no data, or because the period cut it); Levels are per cent changes, rates are differences in %; "per year" compounds levels and divides rates. Tenures with under 12 months, or under three observations, are left out. NOK billion, end of year (latest: end of quarter) · Norges Bank Investment Management, the Government Pension Fund Global's market value at each year's end and at the latest quarter's, from the fund's own page (nbim.no), in kroner at that day's exchange rates, not adjusted for inflation · Norway data · as of Oct 2026.

Sources: Statistics Norway (quarterly national accounts, Labour Force Survey, employment and wages, consumer prices, house prices, population; Oslo's population, regional accounts, register-based employment and unemployment, earnings and offences reported to the police), Norges Bank (exchange rate), Norges Bank Investment Management (the Government Pension Fund Global's value), US Energy Information Administration (crude oil output), GISCO, World Bank (Worldwide Governance Indicators), V-Dem Institute, Transparency International, World Happiness Report, Wikidata, Wikimedia Commons; prime ministers checked against the official lists, Oslo's governing mayors against the city's own list. Every chart is indexed to the office-holder's first day. Correlation is not credit. CreditsPrivacy