Energy
Oman’s Crude Oil Benchmark Rebounds 300% Post Onset of Pandemic
Muscat: Oman’s crude oil benchmark, better known as Oman Crude Futures Contract, has registered a remarkable recovery and posted a growth of by 300% on the Dubai Mercantile Exchange since, the oil prices collapsed due to the onset of the pandemic reaching a low of $17/barrel in April 2020.
On Friday, the Oman Crude Futures Contract (DME) Oman soared to $71.37/barrel (for August 2021 delivery) in trading on the DME – the highest it has ever risen since the start of the pandemic.
Buoyed by growing optimism over global economic recovery on the horizon and the determined vaccination campaigns, prices of crude benchmarks, including the Oman Crude Futures Contract, have been trading above $70 per barrel since the start of this month – for the first time in over two years, according to the report issued by the DME.
-
Alamaliktistaad Magazines2 months ago
Al-iktisaad, October 24
-
OER Magazines2 months ago
Signature, October 24
-
Magazines1 month ago
OER, October 24
-
Oman3 weeks ago
Shell Oman Partners with Oneroad Automotive Gives Away 2 Forthing Cars as Part of its ‘Win Big’ Campaign
-
News2 weeks ago
Mitsubishi X-force Joins Sayarti’s Fleet: A New Era of Elegance and Performance
-
Local Events1 month ago
HH Sayyid Theyazin Opens 16th Meeting of International Forum of Sovereign Wealth Funds
-
Auto1 month ago
Moosa Abdul Rahman Hassan & Co. Celebrates Launch of 2025 Suzuki Swift and Opening of New Suzuki Showroom in Azaiba
-
Energy5 days ago
OUTLOOK: Emerging Markets and Renewables – The Twin Engines of Energy Growth for 2025