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The Director-General of Marketing at the Ministry of Energy and Minerals has said the Sultanate is an important partner in the cooperation agreement signed between OPEC and non-OPEC members that decided to cut oil production.
He said that it was decided that the Sultanate’s share of the production cut in would be 17 percent to 151,000 barrels per day in April, 16 percent to 142,000 barrels per day in May and 15 percent to 133,000 barrels per day in June.
He said added that 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 for calculating crude oil pricing, such as Dubai, Saudi Arabia, Kuwait, and Bahrain.
