Oman to Pump 1mb/d in 2017

Oman to Pump 1mb/d in 2017

Non-OPEC producer Oman intends to pump an average of 1mb/d in 2017 despite the 45,000b/d production cut it had pledged with the OPEC-non-OPEC deal, a senior official at the Oil and Gas Ministry said, according to Oil Price.

In related news, the price of Oman Crude Oil Financial Contract, DME Oman, for April delivery, closed at $55.12 a barrel at Dubai Mercantile Exchange, Zawya informed.

DME Oman crude oil is a benchmark for pricing crude oil by the countries that produce it, and it gives them a differential price that reflects the quality of the product.

The Dubai Mercantile Exchange is a premier energy-focused commodities exchange, and home to the world’s third crude benchmark. It is a joint venture between Dubai Holding, Oman Investment Fund and CME Group.

A number of global financial institutions and energy trading firms have equity stakes in the DME, providing the exchange with a resounding vote of confidence by major players in global energy markets.

Mariana Somensi 890 Posts

Mariana holds a Journalism Bachelor Degree from the State University of Londrina, Brazil. The Brazilian journalist has 4 years of experience on the MENA region's affairs and over a year of experience on the oil and gas industry.

Login

Welcome! Login in to your account

Remember me Lost your password?

Don't have account. Register

Lost Password

Register