Oman posts $2bn budget surplus for H1

Oman posts $2bn budget surplus for H1

MUSCAT: The Omani government posted a budget surplus of 784 million rials ($2.04 billion) at the end of first half of 2022, Oman’s state news agency reported on Sunday. The Gulf Arab state’s oil revenues increased to 3.187 billion rials by the end of first half, the report added. Oman’s crude oil and condensate production reached 189.6 million barrels during the first half of 2022, recording a 9.7 percent growth over the same period last year, according to data released by the Ministry of Energy and Minerals. The oil prices continued to rise throughout June trading, reaching $112.9 per barrel as a consequence of global economic conditions and political escalations around the world, the ministry added.