Oman’s oil output rises 4% in January, but exports decline

Oman’s oil output rises 4% in January, but exports decline

Muscat – Oman’s daily average production of crude oil continued to remain above 1mn barrels per day (bpd) in January, up by nearly four per cent in comparison to daily average output recorded in the same period of last year.

Daily average oil output during January 2023 increased to 1.065mn bpd compared with 1.028mn bpd in the same period of 2022, the data released by National Centre for Statistics and Information (NCSI) showed on Monday.

The sultanate’s total oil production in January 2023 grew by 3.6 per cent to 33.023mn barrels compared to 31.869mn barrels in the same period of last year.

Of the total production, crude output rose by 3.5 per cent year-on-year to 25.978mn barrels during January, while condensates output increased 4.1 per cent to 7.045mn barrels during the first month of 2023.

The sultanate’s total oil production for the full year 2022 had increased by nearly 10 per cent to 388.4mn barrels compared to 354.5mn barrels recorded in 2021.

Oil exports decline 6.9%

Oman’s oil exports declined by 6.9 per cent in January this year to 26.046mn barrels compared with 27.978mn barrels recorded in the corresponding period of 2022.

In contrast, total oil exports for the full year 2022 had increased by 10.6 per