oman to confine oil production at 970000bpd if supply cut continues
Last Updated : GMT 06:49:16
Arab Today, arab today
Arab Today, arab today
Last Updated : GMT 06:49:16
Arab Today, arab today

Oman to confine oil production at 970,000bpd, if supply cut continues

Arab Today, arab today

Arab Today, arab today Oman to confine oil production at 970,000bpd, if supply cut continues

Salim bin Nasser Al Aufi, undersecretary at the Ministry of Oil and Gas, said that if oil producing c
Muscat - Arab today

Oman plans to limit its crude oil production to 970,000 barrels per day (bpd) this year instead of an original plan of 1,001,000 barrels a day, if the ongoing capping on output continues for the rest of the year in line with Opec and non-Opec countries, according to a senior official at the Ministry of Oil and Gas.

Addressing the annual media briefing here on Monday, Salim bin Nasser Al Aufi, undersecretary at the Ministry of Oil and Gas, said that if oil producing countries extend the production cut beyond the initial six months, the average production will be around 970,000 barrels per day. Organisation of Petroleum 

Exporting Countries (Opec) and non-Opec countries last year decided to cut daily production by 1.8 million barrels for the first six months of 2017.

“We support any initiative that will lift oil prices. If that means extending the current agreement beyond the first six months, we will not block it,” Al Aufi said, adding; “However, we need to know the details – how long it is going to continue.”

Al Aufi noted that the original plan, which was taken before implementing crude oil supply cut, was to produce an average of 1,001,000 bpd this year. This was against last year’s average oil production of 1,004,000 barrels per day.

He said that Oman would enhance its stock level once and the production cap is lifted, the country will be able to produce one million barrels a day.

The average price of Oman Crude dropped by 29 per cent to $40.14 per barrel in 2016.

Source: Timesofoman

arabstoday
arabstoday

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

oman to confine oil production at 970000bpd if supply cut continues oman to confine oil production at 970000bpd if supply cut continues

 



Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

oman to confine oil production at 970000bpd if supply cut continues oman to confine oil production at 970000bpd if supply cut continues

 



GMT 08:23 2017 Monday ,03 April

Tesla tops quarterly sales forecast

GMT 20:11 2017 Saturday ,25 March

Former head of Egypt’s syndicate submits appeal

GMT 05:28 2017 Sunday ,26 November

Gas exporters call for 'fair price'

GMT 10:51 2018 Tuesday ,11 December

Cloudy weather with rain showers forecast Tuesday

GMT 20:00 2017 Monday ,25 September

Tourism minister leaves for France to attend Top Resa

GMT 22:07 2017 Tuesday ,02 May

UAE soldier martyred in Yemen

GMT 00:25 2017 Sunday ,10 September

Philippines Sees the Bloodiest

GMT 20:21 2017 Wednesday ,08 November

Ambassador Aizaz Chaudhry met members of Congress in US

GMT 09:31 2017 Monday ,16 October

Dalal Abdel Aziz happy for “Seventh Neighbor”
Arab Today, arab today
 
 Arab Today Facebook,arab today facebook  Arab Today Twitter,arab today twitter Arab Today Rss,arab today rss  Arab Today Youtube,arab today youtube  Arab Today Youtube,arab today youtube

Maintained and developed by Arabs Today Group SAL.
All rights reserved to Arab Today Media Group 2021 ©

Maintained and developed by Arabs Today Group SAL.
All rights reserved to Arab Today Media Group 2021 ©

arabstoday arabstoday arabstoday arabstoday
arabstoday arabstoday arabstoday
arabstoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
arabstoday, Arabstoday, Arabstoday