Oman remains on track to reach its targeted 990,000 b/d average liquids production in 2016 as key international oil companies (IOCs) reiterate their commitment to the Sultanate. And yet Oman is arguably the most vocal regional critic of neighboring Saudi Arabia’s record breaking output, labeling it irresponsible for its impact on crude prices.
Production averaged 981,000 b/d in 2015, just inching above the 980,000 b/d target for the year. However, it was running well above this for most of the second half of 2015 and has exceeded 1mn b/d for the past three months. February’s 1.014mn b/d crude and condensate output was a new record, as was the 911,000 b/d crude produced that month. (CONTINUED - 946 WORDS)
