Oman’s oil production reaches 318.62 million barrels

Oman’s oil production reaches 318.62 million barrels

Muscat: Oman's oil production, including condensates, stood at 318.62 million barrels until the end of November 2020, according to the latest data released by the National Centre for Statistics and Information (NCSI).The average oil price in November 2020 fell by 6.1 per cent compared to October 2020.Of the total production, crude oil production fell by 8.9 per cent at 256.45 million barrels, while condensates production rose by 44.9 per cent to touch 62.17 million barrels.The Sultanate recorded a daily average crude oil production of 951,100 barrels at the end of November 2020, against 971,000 barrels over the same period of 2019, the NCSI report added.However, the average price of Oman Crude fell by 27.3 per cent to reach $46.5 per barrel until the end of November 2020, from $63.9 per barrel in the same period of 2019.Oman exported 262,036,000 barrels of crude oil until the end of November 2020, against 281,776,300 barrels for the same period of 2019, falling by 7 per cent.In terms of exports, China retained its position as the leading destination for Sultanate's crude oil exports until November 2020, with the country importing 227,649,700 barrels of crude oil from Oman. This was followed by India 16,142,300 barrels,