Figures given in Oman’s newspapers today show an interesting snapshot of Oman’s oil business.
Apparently worldwide crude oil prices had a drop in prices in August 2014 compared to the previous month, due to increased supply and reduced demand . Though Oman had a small drop in Oil production of 0.31% in August its exports dropped 11:47%. I guess that’s all to do with the increase in demand for power (mainly cars running on subsidized petrol as most of Oman’ electricity is gas powered). Coupled with the drop in crude oil prices of 6.5% – Oman’s income from crude exports may have dropped 17%
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