The crude oil and condensate production in Oman in May 2018 was 30 mmbbl with a daily average of 969,000 barrels, according to the latest monthly report by the Ministry of oil and gas in Oman
In May 2018, Oman’s total exported quantity of crude oil reached 24.18mn with a daily average of 780,225 barrels.
Oman exported around 73.90 per cent of the total exported quantities of the crude oil to China, showing a decrease by 4.63 per cent compared to the previous month. Imports by Indian sub-continent and Japan also decreased by 4.21 per cent and 2.89 percent respectively.
Malaysian import increased by 11 per cent as compared to April, while in Myanmar there has been an increase by 13.57 per cent of the total exported quantities.
As reported by Times of Oman, the improvement in crude oil prices in May 2018 is due to various major factors including fears before the US withdrawal from the international nuclear agreement to curb Tehran's ability to produce nuclear weapons.
The improved oil price was also supported by the decrease in Venezuela's production since the early 2000s and a larger decline in the US crude inventories.
