Russia has increase its oil production by 150,000 barrels per day (b/d) to reach 10.19 million barrels per day (mmbl/d) during the period January 1st – 14th after easing the output curbs by the global producers.
The Oman’s average daily production of oil has increased 0.23% during December 2020, recording 722,443 barrels per day (b/d) compared to the previous month.
The increase is directly linked to the boost in production from the second phase of North Alexandria project and from Zohr field.
The main reason behind this upsurge is the infrastructure prices increase and the construction of a central station and weight control room.
Domestic consumption of petroleum products is expected to rise by 10.24% in fiscal year (FY) 2018/19 to reach 35.5 million tons.
The Organization of the Petroleum Exporting Countries (OPEC)'s oil production increased in January 2018, following an eight-month low, due to higher output from Saudi Arabia and Nigeria.
Kuwait increased crude oil prices by 0.44% to be $63.78 per barrel, compared to $63.5 per barrel on December 29th, 2017.
