A near 30% fall in world oil prices since June has raised questions over what effect this could have on producers. But while some of its neighbors fear for the worst, Oman insists it has made contingencies for the slide, and is confident it will not hit its oil investment plans going forward.
Crude oil has dropped into a bear market since mid-year, pulling prices down to levels last seen in late 2010. Amid a global oil glut, Brent crude oil futures have slumped a massive 30% since late June – when they were trading at around $115/B (see p28). (CONTINUED - 1632 WORDS)