The Sultanate of Oman's oil exports recorded an increase of 0.01% at the end of October 2024 to reach 256,318.8 thousand barrels compared to the corresponding period in 2023 when it was 256,290.6 thousand barrels, according to the data issued by the National Centre for Statistics and Information (NCSI).
According to NCSI statistics, the production of oil in the Sultanate of Oman decrease by 5.1% at the end of October 2024 to reach 303,149.6 thousand barrels compared to 319,297.1 thousand barrels during the corresponding period in 2023.
Crude oil production decreased by 6.6%, while the production of condensates increases by 0.2% at the end of October 2024 compared to the corresponding period in 2023.
Average oil price increases by 2.5% to reach USD 82.6 per barrel at the end of October 2024, compared to USD 80.5 per barrel at the end of October 2023. Average daily production also decreases by 5.4% at the end of October 2024.
As far as exports are concerned, Oman's oil exports to China recorded an increase by 2.4% to reach 241,087.2 thousand barrels at the end of October 2024 compared to 235,466 thousand barrels in the same period of 2023. Oil exports to India dropped by 26.3% and that of South Korea increases by 102.3%.
Meanwhile, gas production (including imports and local production) in Oman increases by 4.5% to reach 47,105.5 MNCM at the end of October 2024 compared to 45,093.5 MNCM until the end of October 2023.
Further, natural gas consumption increased by 76.7% in power generation plants, whereas consumption in industrial projects, industrial areas and oil fields decreases by 8.5%, 5.1%, and 12%, respectively, until the end of October 2024.