Muscat: The crude oil export to India from Oman surged by 44.4% in March 2022. Data released by the National Center for Statistics and Information (NCSI) in Oman revealed this. India is the second largest importer of crude oil from Oman.
As per the data, the overall crude oil exports from Oman surged by 18% in March 2022. Crude oil exports to South Korea witnessed a growth of 99.4% to reach one million and 995 thousand barrels by the end of March 2022.
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The average price of Omani oil is more than the budget price by $29, and crude oil exports to the, increased during March 2022.
Oman’s production of crude oil and oil condensates increased by 8.7%. Crude oil production alone increased by 12.2% during this period.
The average price of Omani crude oil also recorded an increase of 59.5% at the end of March 2022 to reach $79 per barrel. It was at $49.5 per barrel in March 2021. The average price of oil increased by 14.3% in March compared to the previous month of February 2022.
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