Oman's average oil price per barrel up 9.9% in June 2021

Muscat: The Sultanate’s production of oil stood at 172,840,000 barrels at the end of June 2021 compared to 177,305,400 in June 2020 comprising a decline by 2.5 per cent, according to statistics released by the National Centre for Statistics and Information (NCSI).

The Sultanate’s average daily production of crude oil saw a decrease to stand at 954,900 barrels compared to 964,200 barrels during the same period of the previous year. The average barrel price went up from $51.1 to $56.2, comprising a rise by 9.9 per cent.

The decrease in oil production is attributed to crude oil production, which went down by 10 per cent to reach 132,923,800 barrels by June 2021 compared to 147,765,000 in June 2020. The production of oil condensates stood at 39,916,300 barrels compared to 29,540,000 barrels by the end of the same period in 2020, comprising a rise of 35.1 per cent.  

The total oil exports reached 139,797,300 barrels at the end of June 2021 compared to 146,434,200 barrels in the same period of the previous year, comprising a fall by 4.5 per cent.

Crude imports by China fell by 10.7 per cent at the end of June 2021 to reach 115,858,900 barrels compared to 129,758,700 barrels in June 2020.

Meanwhile, imports by India rose by 315.2 per cent to reach 14,420,200 barrels compared to 3,473,400 barrels in June 2020. Moreover, exports by South Korea reached 4,528,100 barrels, while exports by other countries reached 3,608,300 barrels.