Oman’s crude oil production marginally fell by 0.92 % in September to 30.1m barrels, with a total of 24.95m barrels exported from the Sultanate, the equivalent of 831,743b/d. This shows a 0.15% increase in Exports when compared to August, reported Times of Oman.
Oman exported over 66% of it oil output to China, a 14.51% from the previous month. While 11.85% of oil production was shipped to the US. Furthermore, Japan’s month-to-moth imports of Omani oil during September grew by 5.7%, according to Hellenic Shipping News.
After halting shipments in August, South Korea imported 8.02% of the sultanate’s total production during September. However, Taiwan’s imports dropped by 3.27%, recording a 4.01% share of the total Omani crude oil exports.
The Omani crude oil was quoting at $45.54/b at the New York Stock Exchange with an increase of $0.26 during September 2016 while at the Intercontinental Stock Exchange in London it recorded a price of $47.24, which is an increase of $0.08/b. A slight decrease was recorded at the Dubai Stock Exchange by 0.2%.