Oman’s oil output jumps 6.6% by November-end

16 Jan 2011

(MENAFN) Officials at Oman’s economy ministry announced that during the January-November period of 2010, the Sultanate’s oil output reached 288.1 million barrels, up from 270.4 million barrels, year on year, registering a 6.6 percent surge, Reuters reported.

According to official data, during the mentioned period, Oman posted a 9.7 percent jump in its exports to 243.7 million barrels with China, Japan and Thailand among the leading markets.

Although Oman is considered a small independent oil producer, the price of its oil is used to help set the benchmarks used in pricing Middle East crude exported to Asia, whereas the average sale price of the Gulf sultanate’s crude rose 38.3 percent to $76.28 per barrel in the period.

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