Oman’s crude oil production grew by 0.72% to 29.40mn barrels in February, which was equivalent to over 1mn barrels per day (bpd), according to the monthly statistics released by the Sultanate’s Ministry of Oil and Gas.
In February, 28.8mn barrels or 993,266 bpd were exported, which shows a growth of 12.7% over January 2016 figures.
China recorded a 26.39% fall in imports compared to January 2016 while exports increased to Taiwan, Singapore and South Korea recording 7.93%, 1.67% and 0.79% increase, respectively. The United States also imported 7.99% of Omani oil in February.
Omani oil, on the other hand, suffered a major decline in price at the Dubai Mercantile Exchange where the price for May delivery 2016 was $30.23 per barrel, which was an increase of $2.83 compared to March delivery 2016.
The price fluctuated between $31.94 and $26.83 per barrel.
