Oslo has become the latest city to officially withdraw from the race to host the 2022 Winter Olympic Games.

Organisers said they were left with no choice but to pull out after Norway's ruling Conservative Party said it could not support the necessary financial guarantees.

Public support had dwindled for the project since this year's lavish Winter Olympics in Sochi, which are estimated to have cost in the region of €40billion.

A statement from Oslo City Council read: "It has now become known that the Conservative Party parliamentary group has recommended not to grant a state guarantee for the Olympic and Paralympic Winter Games in 2022.

"[There is] no longer any realistic possibility that Parliament will go in for an Oslo Olympics in 2022, and Oslo will withdraw the application for government guarantees and subsidies."

Oslo becomes the fourth city to withdraw from the official 2022 bidding process after Krakow, Lviv and Stockholm also signalled their intention not to continue.

Beijing - which is bidding to become the first city to host both a Summer and Winter Olympics - and Kazakhstan capital Almaty - are the only cities to remain in the race.

The International Olympic Committee will elect the host city at its IOC Session in Kuala Lumpur on July 31 next year.

The IOC's astonishing 7,000 pages of demands - including meetings with the king, VIP cocktail parties and dedicated traffic lanes, as revealed by newspaper VG, - did not go down at all well in Norway.

Among the IOC's other demands were: Cars and drivers for IOC members, with special dedicated highway lanes; Street lights synchronized to prioritize IOC traffic; Separate airport entrance for IOC members; Hotel mini-bars must have only Coca-Cola products; Samsung phones for all IOC members; All meeting rooms must be kept at exactly 68 degrees; All furniture must have "Olympic appearance"; and "IOC members will be received with a smile on arrival at hotel".