Oil production in Oman took a 3.4% hit in the year of 2019, totalling 354.39 million barrels, according to Oman’s News Agency (ONA). Of the total production, crude oil production was down by 3.4% at 306.8 million barrels, while condensates production rose by 20.1% to touch 47.57 million barrels.
With the numbers broken down, Oman recorded a daily average crude oil production of 970.9 barrels at the end of December 2019, as compared to 978.4 barrels over the same period of 2018, according to the National Centre for Statistics and Information (NCSI).
Furthermore, the average price of Oman Crude fell by 8.7% to reach $63.6 per barrel until the end of December 2019, from $69.7 per barrel in the same period of 2018.
China remains the largest recipient of Omani oil exports, with the country having imported 243.3 million barrels of crude oil from Oman in the year 2019.
On the other hand, Oman’s natural gas production and imports rose 1% to 46,190 million cubic meters (MNCM) at the end of December 2019, from 45,721 MNCM for the same period of 2018.