Muscat: In coordination with other countries participating in the OPEC Plus agreement, the Sultanate of Oman has decided to extend its voluntary reduction of 42,000 barrels of crude oil per day until the end of June 2024.
This extension follows the earlier announcement in April 2023, where Oman had voluntarily reduced 40,000 barrels per day until December 2024. The Ministry of Energy and Minerals stated that this additional reduction aims to strengthen the precautionary efforts made by OPEC Plus countries in maintaining the stability and balance of oil markets.
The gradual restoration of these additional reduction amounts will be based on market conditions.
