Oman crude oil price double since output cut came into effect

Oman crude oil price double since output cut came into effect

The price of Oman oil hiked by $18.3 per barrel on Friday. On Friday, 15 May, the price of Oman oil hiked by $18.3 per barrel or 108% to settle at $34.95 per barrel, compared to a record low of $16.82 on 28 April, the Dubai Mercantile Exchange (DME) announced on Monday.. The DME further remarked that the prices of the Middle East oil have increased faster than those in Europe, with Oman trading at nearly $3 per barrel over the Brent North Sea benchmark on Friday..