The Sultanate of Oman’s average daily production of crude oil reached 718,700 barrels per day (bbl/d) during September, according to the Times of Oman.
This represents an average daily production drop of 0.18% month-over-month (MoM) as compared with August. On top of this, the exported quantities of Oman Blend crude oil reported as 736,165 bbl/d, dropping by 1.21% compared with August.
The Asian market for Omani crude is starting to show recovery with China’s imports climbing by 1.90% MoM, compared to August. Similarly, India’s import percentage has surged by 7.4% MoM, however, Japan’s share has fallen slightly.
Slow global economic recovery due to the COVID-19 pandemic has contributed to weak oil demand due to the increasing number of people infected with this virus around the world.