Oman’s oil output has been capped in recent years as voluntary Opec+ production cuts have limited the sultanate’s crude production since May 2023. Some of this has been offset by increased condensate output, but the start of new voluntary cuts in January 2024 meant total liquids output fell below 1mn b/d for most of that year.
The steady unwinding of Opec+ production cuts since April pushed Oman’s liquids output back above 1mn b/d in July for the first time since February 2024. Opec+ ministers agreed to another incremental increase for November (MEES, 10 October, under which Oman’s crude oil quota will rise to 808,000 b/d. (CONTINUED - 819 WORDS)
