15/09/2014
Total production amounted to 29.5 million barrels
Oman's oil exports fall 11% in August
Total exports of Oman from the volumes of crude oil abroad during the month of August 24 million and 827 alpha and 208 barrels, an average daily capacity of 800,000 and 878 barrels, down 11.47 percent compared with July, 2014 when calculating the daily rate. According to the monthly report issued by the Ministry of oil and gas in Oman, the Oman news agency quoted total production of crude oil and condensate oil during the month of August, 29 million and 556 thousand and 812 barrels, at a daily rate of $ 953 thousand and 446 barrels, down 0.35 percent compared to July, 2014 when calculating the daily rate.
Asian markets have been gripped, as always, the major proportion of Omani oil exports, as China is still at the forefront of importing countries by 65 per cent of total exports, in addition, the proportion of the quantities imported from Thailand to overcome the barrier of 9 per cent, while imports from Thailand and South Korea, Japan and India in varying proportions reached 6 per cent for some countries. The Sri Lanka has resumed import of Omani crude this month and imports amounted to 5.38 percent as well as New Zealand and import reached 0.81 per cent. With regard to the movement of oil markets during the month of August, 2014, the average price of West Texas crude oil on the New York Mercantile Exchange, US commodities ' NYMEX ' 95 US dollars and 23 cents, down six dollars and 61 cents compared to trading by July 2014. While the average Brent Exchange (ICE) in London, 103 dollars and 69 cents, the low four dollars and 56 cents compared to last month's trades.
The global crude oil prices saw a marked decline during trading August 2014, compared with last month, because of abundant supply and weak global demand and the stability of the political tensions in the Middle East and North Africa, and Ukraine. The average price of Omani oil delivery October 2014 $ 102 and 23 cents per barrel, down four dollars and one cent over the price for delivery in September, 2014, with Oman oil contract term DME declined as other brands in the world due to the aforementioned factors, trading fluctuated between 104 dollars and 72 cents a barrel to $ 100 and 59 cents per barrel.
