Oil production touches 236m barrels till Aug

Muscat: The Sultanate’s crude oil production, including condensates, marginally rose 0.2 per cent to 235,76 million barrels by the end of August 2018, compared to 235,334.6 million barrels for the same period of last year. Of the total production, crude oil output stood slightly lower at 26,744.3 million barrels, while condensates production touched 3.46 million barrels in August alone this year, according to NCSI data. Oman recorded a daily average daily crude oil production of 970,200 barrels per daily by the end of August 2018, against a daily average output of 968,500 barrels for the same period of 2017, the NCSI report added. The average price of Oman Crude surged ahead by 30.2 per cent to $66.4 per barrel by the end of August, from $51 per barrel in the same period last year. — ONA