Oman to Cut Output of 40,000 bpd Starting May 2023

Muscat, 2 Apr (ONA) —- The Sultanate of Oman has announced that it will voluntarily cut production of 40,000 barrels of crude oil per day, starting from next May until the end of 2023, in coordination with some countries participating in the “OPEC Plus” agreement.

The Ministry of Energy and Minerals explained that this voluntary cut is a precautionary measure, besides the production cut agreed at the 33rd ministerial meeting of “OPEC Plus” on 5 October 2022.

—- Ends/Khalid