Oman’s crude oil production declines in January – ZAWYA

Oman’s crude oil production declines in January – ZAWYA

Crude imports by China rose by 3.20% during January 2020 to reach 85.96% of the total Omani crude oil exports compared to December 2019. An employee demonstrates a sample of crude oil in the Yarakta Oil Field, owned by Irkutsk Oil Company (INK), in Irkutsk Region, Russia in this picture illustration taken March 11, 2019.. The crude oil prices dropped during January 2020 futures settlement trading (March Delivery 2020), compared to December 2019 for the major crude oil benchmarks around the world.. The official selling price for Oman Crude Oil during trading of January 2020, for the delivery month of March 2020, settled at $64.89 per barrel, fell by (60 cents) compared to February 2020 delivery.. The drop in crude oil prices during January 2020 trading is attributed to several factors that directly and negatively impacted prices..