Oman's oil production is up almost 13% over 2021

The Sultanate of Oman's crude oil production experienced a 12.9% increase at the end of May 2022, according to the latest data released by the National Centre for Statistics and Information (NCSI).

Meanwhile, the average price of crude oil in Oman has seen significant growth, with a 46% increase to USD 80 per barrel, up from around USD 50 in 2021.

On the other hand, condensate production has decreased by 2.4%, which, together with the increase in oil, means that the combined production of condensate and crude oil has registered a growth of 9.4% at the end of May this year compared to the same month in 2021, reaching almost 157.5 million barrels.

Oman's total crude oil and condensate exports also increased, achieving 16.3% growth this 2022 compared to the data obtained at the end of May 2021.

Among the countries to which Oman ships its barrels, Japan stands out, increasing its demand by 399.9% to 5,008,400 barrels at the end of May 2022 compared to the 1,001,900 barrels Oman shipped during the same period last year. Oil exports to India likewise recorded a large increase, in this case by 65%, during the same period.

The Sultanate of Oman's natural gas production (including imports) also saw an increase, in this case by 1.5%, at the end of May this year to 20,401 million cubic metres, compared to 20,106 million cubic metres at the end of the same month in 2021.

Gas consumption also recorded an increase in Oman's industrial areas of 14%, while in industrial projects it grew by 6.3% and in power plants by 0.7%. In contrast, consumption in oil fields at the end of May 2022 decreased by almost 10% compared to the same period in 2021.