Only if there was a large pact of countries doing so. But even that would be dubious, since OPEC and other groups would just increase production. Also there are many oil resources that can be tapped with a slight increase in the prices, so really Norway would just be handing production over to countries like Canada, where local governments would be only too eager to sell the more expensive product.

That is under the assumption oil revenues aren’t efficiently spent on speeding the green transition.