Oman’s crude oil production rose 3.05 per cent or by 995,708 barrels per day to 29.87 million barrels in November. Also, the country exported 24.61 million barrels during the same month, which shows a daily export average of 820,206 barrels. Crude oil exports edged up 0.15 per cent in November, from the previous month.
China topped the list of crude oil importing countries from Oman, with an increase of 0.72 per cent and making up for 68.85 per cent of Oman’s Crude exports. Taiwan and South Korea also imported Oman Crude, with a share of 15.25 percent and 8.14 percent, respectively. These two countries did not import Oman Crude in October.
India’s imports increased by 1.23 percent, while Thailand and Japan showed a marginal fall in their imports.
The average price of West Texas grade at the New York stock exchange was pegged at $43.73 per barrel, reflecting a $2.89 drop from October. The London ICE was recorded $46.23 per barrel, which indicated a fall of $3.24 per barrel, compared with October 2015.
Oman Crude, on the other hand, witnessed a major fall in price at the Dubai Mercantile Exchange, where the price for the January 2016 futures trade was $42.28, dropping by $3.75 per barrel, compared with December 2015.