Muscat: The Director-General of Marketing at the Ministry of Energy and Minerals confirms in a statement to the Oman News Agency, ( ONA ), that the Sultanate is an important partner in the cooperation pact that brings together OPEC member states to curb production quantities and other non-members.
He stated that it was decided that the Sultanate’s share of the production cut in April would be by 17 percent by 151 thousand barrels per day, in May by 16 percent by 142 thousand barrels per day, and in June by 15 percent by 133 thousand barrels per day.
He added:” Oman crude oil is a basic reference for oil prices, especially in Asian markets, and the majority of regional national oil companies use the Oman crude index as a primary factor that enters the equation for calculating crude oil pricing, such as Dubai, Saudi Arabia, Kuwait and Bahrain.”
