Wednesday 26 February 2020

Oman's crude oil production hits 30m barrels in July

MUSCAT, August 20, 2019

Oman's crude oil and condensates production hit 30 million barrels in July, with a daily average of 970,682 barrels, a report said.
The sultanate exported 21,329,021 barrels, with a daily average of 688,051 barrels during the month, said a Times of Oman report quoting data by the Ministry of Oil and Gas.
China's imports of the Omani oil registered a rise for the second consecutive month by 7.98 % of the total imports by the country during July. China accounted for 78.04% of the total exports of the Omani crude oil.
Imports by India, Korea and Tanzania also registered a rise of 0.76%, 2.78% and 0.22%, respectively, while imports by Japan declined by 11% compared to June. Demand for Omani crude by Myanmar buyers returned in the month.
The trading of Oman Crude Oil Future Contract at Dubai Mercantile Exchange (DME Oman) rose by 3.5% compared with the previous month. The price of Oman oil during the trading of July 2019 (September Delivery 2019) stood at $63.87 a barrel, a rise of $2.15 compared to August delivery 2019. 


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