Oman’s Oil Exports Rise Slightly in September 2024 Amid Production Decline

Oman, 4 November, 2024 :  Oman’s oil exports saw a slight rise of 0.1% by the end of September 2024, reaching 230.6 million barrels, according to the National Centre for Statistics and Information (NCSI). This marks a minor increase from the 230.3 million barrels recorded during the same period in 2023.

Despite the rise in exports, Oman’s total oil production dropped by 5.1% to 272.4 million barrels compared to 287 million barrels in 2023. Crude oil production declined by 6.7%, though condensate output rose by 0.6%.

The average oil price improved by 3.5% to USD 82.6 per barrel, up from USD 79.9 per barrel a year earlier. Meanwhile, Oman’s daily average oil production fell by 5.1%.

In export destinations, shipments to China grew by 4.5% to 219.6 million barrels. Exports to Korea increased significantly by 31.8%, while those to India dropped by 26.3%.

Source : www.omannews.gov.om