Oman's crude exports plunge 36.5% in Q1

Exports dropped to $7.35 from $11.58bn for the same period a year earlier

Oman has announced plans to maintain production stable.
Oman has announced plans to maintain production stable.

Oman’s crude exports declined significantly in the first quarter of 2015, Times of Oman reports.

Exports of crude oil, petroleum products and liquefied natural gas plunged by 36.5% to $7.35 in the first four months of 2015 from $11.58bn for the same period the year before.

Crude oil exports showed a 38% drop, while liquefied natural gas exports were down by 18.5%.

Oman’s total exports decreased 32.9% to $11.77bn from $17.56bn for the same period the year before.

Oman Crude almost halved since its peak levels last year, posting a 43.7% decrease.

For the first half of the year, prices averaged at $59.3 per barrel, down from $105.38 a barrel for the same period of 2014.

Crude oil output in H1, 2015 was 175.67mn barrels of oil per day, up 2.9% for the same period in 2014.

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