Omani oil production averaged a record 1.15mn b/d in Q2 as the sultanate benefited from the easing of Opec+ production restrictions and the global oil shortages caused by the effective closure of the Strait of Hormuz in early March. As the only GCC country outside the strait, its exports have not been affected (MEES, 26 June).
Oil output – crude and condensate – was up 11% from the first quarter. Back-to-back monthly records were set in April (1.141mn b/d) and May (1.172mn b/d), before volumes dipped to 1.146mn b/d in June. (CONTINUED - 245 WORDS)
