Oman’s oil production increases

Oman’s oil production increases

Oman

Wednesday 13/January/2021 13:35 PM

By: Times News Service

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Muscat: The average daily production quantity of crude oil for the Sultanate in December 2020 increased by 0.23 per cent to 722,443 barrels, compared to the previous month.

81 per cent of the Sultanate's oil production is exported to China, 7.2 per cent to India, 5.2 per cent to Japan and 2.9 per cent to Malaysia.

According to the Oman News Agency (ONA): "The average daily export quantities of crude oil and condensates reached 806,831 barrels, a rise of 3.31 per cent compared to November 2020."

"The average price of Oman's oil futures on the DME witnessed an increase of 14.1 per cent compared to the average price of November, and the price for delivery next February reached $ 50 per barrel, up by $ 6.17 compared to the current January delivery price," ONA added.