Oman’s oil output rose for the sixteenth consecutive month for August, hitting its second highest ever figure of 1.092mn b/d – just below April 2020’s record 1.1mn b/d. Indeed, volumes could have exceeded that mark last month if condensate output hadn’t been capped. Oman’s condensate output is largely a by-product of gas production, and with Oman’s LNG facilities maxed out, state-led firm PDO is having to cap gas output (MEES, 16 September).
Condensate output of 211,000 b/d in August tied April for the lowest figure of the year. Oman hasn’t produced below this level since August 2020’s 202,000 b/d. Meanwhile, crude oil output surged by 15,000 b/d last month to 881,000 b/d, exactly in line with Oman’s Opec+ target. That target rises again to 883,000 b/d this month, before reverting to 881,000 b/d in October (MEES, 9 September). (CONTINUED - 532 WORDS)