Oman: Oil production increases by 3.6% in 2023

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Muscat: Oil production in the Sultanate of Oman increased by 3.6 percent, to reach 33, 23, 800 barrels by the end of January 2023.

Crude oil production recorded 25,978,600 barrels, while the production of condensate oil reached about 7,45,200 barrels, according to preliminary data issued by the National Center for Statistics and Information.

China topped the list of countries importing Omani oil with 21,639,100 barrels, followed by India with 1,714,400 barrels, then Japan with 1,267,700 barrels.

The average price of Omani crude oil increased by 7.3 percent until the end of last January, to reach $86.2 a barrel, compared to $80.3 a barrel during the same period in 2022. The average daily oil production increased by 3.6 percent.

The budget is based on an oil price of $55/barrel compared to $50/barrel in the Tenth Five-Year Plan and the 2022 budget.

The average price of oil in 2022 was $94/bbl.

The statistics indicated that total oil exports decreased by the end of last January by 6.9 percent, to reach 26 million and 46.3 thousand barrels, compared to 27 million and 978.9 thousand barrels during the same period in 2022.