Oman's crude oil production up 3% in November

Crude oil exports edged up 0.15% in November, from the previous month

Oman's crude oil production rose by 3.05% or by 995,708 barrels per day (bpd) to 29.87mn barrels in November.
Oman's crude oil production rose by 3.05% or by 995,708 barrels per day (bpd) to 29.87mn barrels in November.

Oman's crude oil production rose by 3.05% or by 995,708 barrels per day (bpd) to 29.87mn barrels in November, the Times of Oman reported.

The Sultanate exported 24.61mn barrels during the same month, which shows a daily export average of 820,206 barrels. Crude oil exports edged up 0.15% in November, from the previous month.

China topped the list of crude oil importing countries from Oman, with an increase of 0.72% and making up for 68.85% of Oman's Crude exports.

Taiwan and South Korea also imported Oman Crude, with a share of 15.25% and 8.14%, respectively. These two countries did not import Oman Crude in October.

India's imports increased by 1.23%, while Thailand and Japan showed a marginal fall in their imports.

The average price of West Texas grade at the New York stock exchange was pegged at $43.73 per barrel, reflecting a $2.89 drop from October. The London ICE was recorded $46.23 per barrel, which indicated a fall of $3.24 per barrel, compared with October.

Oman Crude, on the other hand, witnessed a major fall in price at the Dubai Mercantile Exchange, where the price for the January 2016 futures trade was $42.28, dropping by $3.75 per barrel, compared with December.

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