Complex Made Simple

Oman’s oil exports hit 232.5 million barrels

Country’s oil production continued to register annual increases during first nine months of the year

China still ranks at the top of the Omani crude oil-importing countries with a 79.9 per cent stake during the first nine months of the year, according to the National Center for Statistics and Information’s (NCSI) statistical bulletin.

According to the bulletin, Oman’s oil exports reached 232.5 million barrels during the first nine months of the year 2015, with annual increase of 5.7 per cent, Oman-based Al Watan Newspaper reports.

Exports comprised 87.1 per cent of the total output, compared with 85 per cent for the same period of last year.

The data indicates an average daily oil production of 978,000 barrels during the period under study, with an annual increase of 3.2 percent.

It is worth mentioning that Oman’s oil production continued to register annual increases during the first nine months of the year, while the average price per oil barrel recorded $60, with a 43.5 per cent decline on an annual basis.

Updated dates reveal a drop in Oman crude prices by 2.2 per cent on a weekly basis to settle at $39.35 per barrel.

($1 = AED3.67, at the time of publishing)