MUSCAT: Oil production in the Sultanate has risen by 3.6 per cent to reach 326 million barrel by the end of November this year compared with 315 million barrels produced in the same period last year, according to the National Centre for Statistics and Information( NCSI).
The average daily oil production recorded 978,000 barrels compared with 944,000 at the end of November 2014. The average price of oil stood at $57.4 per barrel by the end of November this year compared to $104 in the corresponding period of last year.
Against the backdrop of the continuing low oil prices in the global markets the increase in oil production is taken as a necessary step to recoup lost revenues in the oil exporting countries. Additionally, the Sultanate ratcheted up its oil exports by 5.4 per cent to 282 million barrels by the end of November, according to an official statistics obtained by (NCSI) from the ministry of oil and gas.
Against the backdrop of the continuing low oil prices in the global markets the increase in oil production is taken as a necessary step to recoup lost revenues in the oil exporting countries. Additionally, the Sultanate ratcheted up its oil exports by 5.4 per cent to 282 million barrels by the end of November, according to an official statistics obtained by (NCSI) from the ministry of oil and gas.
China continued to be the largest importer of crude oil from Oman with total oil imports of 220 million barrel by the end of November this year followed by Taiwan (25 million barrels), Singapore (10 million barrels), Thailand (9 million barrels), Japan (8.6 million barrels), India (2.6 million barrels) and other countries imported 2.4 million barrels.
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