Daily crude production in Oman crosses one million barrel-mark

Muscat: Oman’s average daily crude oil production crossed one million barrel-mark in June this year, according to the Ministry of Oil and Gas. The Sultanate’s crude oil and condensate production grew by 1.25 per cent to 30.37 million barrels in June, equivalent to 1.01 million barrels per day. While the total crude oil exports reached 26.70 million barrels in June 2016, equivalent to 899,941 barrels per day, recording a fall of 2.41 per cent compared with May 2016. China's import of Oman Crude recorded an increase of 84.84 per cent compared to May 2016. Also, Taiwan increased its import of Oman Crude by 4.16 compared to May. Crude oil prices witnessed a significant improvement in June 2016 with the average oil price of West Texas American in the New York Mercantile Exchange ruling at $49.25, up by $1.98 compared to May 2016. Also, the average price of North Sea Brent at the Intercontinental Exchange (ICE) in London stood at$49.85 a barrel, up by $2.21 compared to May 2016.