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FINANCIAL NEWS
Oman aims to limit crude output at 970.000bpd
04 Apr 2017
(MENAFN) Oman plans to limit its crude oil production to 970.000 barrels per day this year instead of a plan of 1.001.000 barrels a day, if the ongoing covering on output continues for the rest of the year.
Accordingly, if oil producing nations increase the production cut beyond the initial six months, the average production will be around 970.000 barrels per day.
Furthermore, OPEC and non-OPEC nations last year reduced daily production by 1.8mn barrels for the first six months of this year.
Meanwhile, the original plan, which was taken before installing crude oil supply cut, was to cut an average of 1.001.000bpd in the recent year.
MENAFN0404201700450000ID1095367479
MENAFN0404201700450000ID1095367479
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