Oman more than-adhered to its oil production cut pledge in January, but refinery maintenance means that exports rose regardless. Producing companies are boosting production capacity, but, so long as Oman complies with the pledge made to Opec on 10 December to cap first half 2017 output at 970,094 b/d, its full year 1mn b/d target will be difficult to hit.

Crude and condensate production fell to 966,000 b/d in January the lowest level in 16 months and 4,000 b/d below planned average H1 2017 levels (MEES, 20 January). (CONTINUED - 1223 WORDS)