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Oman's crude oil exports fall 6.5pc

According to a statistical bulletin published by the Ministry of National Economy, the Sultanate's total production of crude oil and condensates also fell by 5.3 per cent to 107.656 million barrels by the end of May as against 113.733 million barrels during the corresponding period in 2006.

The average daily production was 713,000 barrels of oil at the end of May 2007 against 753,002 barrels during the corresponding period in 2006, constituting a fall of 5.3 per cent.

Average price of Oman oil barrel fell by 4.4 per cent by the end of May 2007 to $58.35 per barrel against $61.02 per barrel during the corresponding period in 2006.

Meanwhile, the bulletin said that China's imports of Omani oil rose to 18.7 per cent taking it to the top of countries importing Omani oil. China imported 42.952 million barrels during the first five months of 2007 against 36.184 million barrels during the corresponding period in 2006.

Thailand came second importing 16.380 million barrels by end of May 2007 as against 25.81 million barrels in 2006 constituting a drop of 36.5 per cent. Japan came third as it imported 12.81 million barrels.