Oman’s total oil production, including condensates, decreased to 347.94mn barrels in the year ended December 31, 2020, compared to 354.39mn barrels in the previous year.
Of the total production, crude production dropped by 9.1 per cent at 278.84mn barrels, while condensates production rose 45.2 per cent to 69.1mn barrels in 2020 against the previous year, according to data released by the National Centre for Statistics and Information (NCSI).
Oman recorded a daily average crude oil production of 950,700 barrels in 2020 against 970,900 barrels in 2019.
However, average price of Oman crude fell by 27.6 per cent to US$46 per barrel during the year 2020 from US$63.6 per barrel in 2019.
Oman exported 287.04mn barrels of crude oil in 2020 as compared with 310.33mn barrels exported in 2019, a decline of 7.5 per cent.
China, the biggest buyer of Oman’s crude, imported 248.12mn barrels of oil from the sultanate last year, according to NCSI data.