The head coach admitted that his side gave the ball away too often and made numerous errors during the game, putting their mistakes down to fatigue.
"My players looked tired. You could see them tiring as the match went on. We tried to get our substitutes on to inject some energy but our game was restless. We lost the ball too often, faced too many counter-attacks and had to do too much running," Hareide told reporters during his post-match press conference.
"We used up a lot of strength. But that's the World Cup - it's very tough and that's just the way it is.
"Australia are a good side, well organised, and France were lucky to beat them 2-1. So we knew it was going to be tough. The level of effort from my team was good. We just gave the ball away too often and made too many wrong choices."