The Sultanate’s total production of crude oil and condensates amounted during 2015 to 358,097,807 barrels, a daily rate of 981,090 barrels.
The statistics showed that the total quantities of crude oil exported abroad during 2015 stood at 308,135,672 barrels, a daily rate of 844,207 barrels. The statistics also pointed out that China topped the list of importers of the Omani oil during 2015 by 77.1%.
Further, the statistics showed that the average of the Omani oil price during 2015 stood at 56 US dollars and 45 cents.
The monthly report released by the Ministry of Oil and Gas pointed out that the Sultanate’s total production of crude oil amounted in December 2015 to 31,214,058 barrels, a daily rate of 1,006,905 barrels, comprising a rise by 1.12% compared to November 2015 when calculating the daily average.
The report pointed out that the total quantities of crude oil exported abroad in December 2015 stood at 25,622,957 barrels, a daily rate of 826,547 barrels, comprising a rise by 0.77% compared to November 2015.
The percentage of China’s imports of the Omani crude oil during December 2015 comprised 68.16% of the Omani oil exports, comprising a slight rise by 0.69% compared to November 2015.
Taiwan and South Korea imports of the Omani crude oil decreased by 5.30% and 2.240% respectively compared to November 2015.
The percentage of the Omani crude oil imported by India comprised 3.85%, Japan 1.98% and Thailand 0.03% in comparison with November 2015. It should be noted that Australia imported quantities of the Omani crude oil during December 2015.
The report reflects the critical times experienced by the world oil markets and the remarkable slump of the trading in energy exchanges all over the world. It also reflects the direct and clear implications of this situation on the settlement prices for most reference oils in the world, pushing them sharply and consistently downwards, including Oman Oil Future Contracts. The trading was hovering around USD 30 during most days of the month. This slump is attributed to the US dollar appreciation and the high US crude oil reserves.
The Omani oil price rate for February 2016 delivery amounted to 34.59 US dollars, comprising a decline by 7 US dollars and 70 cents, compared to the delivery price of January 2016. The trading price ranged between 40.54 US dollars and 31.21 US dollars per barrel.