Oman crude output grows 4.3% to 121m barrels in the first four months

Oman’s crude oil production in the first four months of 2016 rose 4.3 per cent to 120.69 million barrels, from 115.67 million barrels for the same period of last year, according to National Centre for Statistics and Information (NCSI).

 

This is equivalent to an average of 997,400 barrels per day in the first four months of this year, against 963,900 barrels a day for the same period of last year.

 

In April 2016 alone, the production was 29.83 million barrels, equivalent to an average daily production of 994,303 barrels.

 

The country’s crude oil exports also grew 8.7 per cent to 110.93 million barrels for the first four months, against 102.10 million barrels for the first four months of 2015.

 

However, the average price of Oman Crude plunged by 44.5 per cent to $33.6 per barrel in the first four months of 2016, from $60.5 a barrel for the same period of previous year.

 

China imported a major chunk of Omani Crude, which grew 3.7 per cent to 80.71 million barrels during the period, while Taiwan imported 8.82 million barrels of Omani oil. This was followed by the United States (6.18 million barrels), South Korea (6.05 million barrels) and Japan (2.35 million barrels). The import of Oman Crude by Taiwanand Japan declined.

Source: Times Of Oman