Oman’s crude oil exports grew by 6.2% to 190.71mn barrels in the first seven months of 2016, thanks to increases in production. However, the average price of Oman Crude fell by 39.9% to USD36.4 per barrel in the overseas markets in the first seven months of 2016, from USD59.9 per barrel in the same period last year. Sultanate’s production of crude oil and condensates grew by 3.2% to 213.40mn barrels in the first seven months, against 206.71mn barrels for the same period in 2015. This was equivalent to an average daily production of 1,001,900 barrels this year. As a result of the dip in oil prices, net oil revenues for the first half of 2016 plunged by 47.7% to OMR1,489.3mn, from OMR2,846.8mn in the same period last year. (Times of Oman)