Oman crude and condensate production averaged 1.04mn b/d for March, the third highest figure on record behind only 1.08mn b/d and 1.11mn b/d for March and April 2020. With Opec+ production restrictions gradually easing, Oman’s quota is increasing by 9,000 b/d per month.
The breakdown of this two year-high was 829,000 b/d of crude oil and 215,000 b/d of condensate. Significantly, Oman hit its Opec+ crude oil quota in March for the first time since December 2020 when its quota was much lower at 722,000 b/d. Oman fell increasingly off the pace in the second half of 2021, with the gap peaking at 20,000 b/d in November. (CONTINUED - 725 WORDS)
