Oman produced 29.93mn barrels of crude oil in January, equivalent to 965,617 barrels per day, according to a monthly report released by the Ministry of Oil and Gas. This shows a drop of 2.97 percent in crude oil production, compared to December 2016. As many as 26.65mn barrels of crude oil was exported in January 2017, equivalent to 859,682 barrels per day, an increase of 4.54 percent compared to the previous month. Oman crude oil price witnessed an increase of 2.3 per cent at the Dubai Mercantile Exchange where the average price for futures contract - March 2017 was USD53.93 per barrel. (Times of Oman)
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