As with other Opec+ oil producers, Oman’s crude output has fallen this year as output restrictions have tightened. It is currently subject to a formal Opec+ cut of 40,000 b/d that came into force in November 2022 and an additional voluntary 40,000 b/d since May.
These cuts have seen the sultanate’s crude production fall to 801,000 b/d, a level it has held (give or take 1,000 b/d) since June, according to official government data. For Q3, this equates to a 75,000 b/d fall in crude output versus year-ago levels. However, overall liquids output and crude exports have fallen by much less. (CONTINUED - 852 WORDS)
