Crude prices at $53.94 a barrel

MUSCAT: Dubai Mercantile Exchange (DME) said that Oman oil price for December delivery reached $53.94. The DME statement said that the price of Oman oil declined $1.42 from the price of last Friday, which was $55.36. The average price of Oman oil for October delivery has stabilised at $50.39, thus $2.76 higher per barrel higher than September delivery. International oil prices regained some ground on expectations that Saudi Arabia would continue to restrain its output in order to support prices, and as the amount of rigs drilling for new oil in the United States dipped.