Oman’s oil output crosses 970,000 bpd mark in April

Muscat - 

Oman’s crude oil and condensates production reached to 29.11mn barrels in April, recording a daily average output of 970,467 barrels per day (bpd).

The monthly report issued by the Ministry of Oil and Gas showed that Oman exported a total 23.95mn barrels of oil during April, a daily average of 798,301 bpd. Asian markets received the bulk of Oman’s crude exports in April. China continued to remain the largest buyer of Omani crude with an increased share of 83.83 per cent in April.

Average price of Oman crude oil future contracts at the Dubai Mercantile Exchange recorded a 6.2 per cent rise in April compared to March. Official selling price for Oman crude during April (for June delivery) settled at US$71.15 per barrel, an increase by US$4.18 compared with May delivery prices. 

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