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Oman’s crude oil exports tumble in February

Oil

Crude oil exports from Oman decreased by around 106K b/d (or 13%) m-o-m to 709K b/d in February, falling to the lowest level since December 2018, according to Argus reporting on data from the country’s energy ministry. This is the first time that exports have decreased on a month-on-month basis since September 2020, as increased volumes were refined to meet recovering domestic demand amidst ongoing OPEC+ production commitments. Crude oil production edged down by 1K b/d m-o-m to 729K b/d, as Oman continued to comply with its current OPEC+ maximum output quota of 732K b/d.