Oman Economy Accelerates to 5.1% Growth Rate in Q2

Oman's economy experienced a significant acceleration in growth during the second quarter of 2026, expanding at a rate of 5.1% year-on-year. This marks a notable increase from the first quarter's 3.0% growth, driven predominantly by strong activity in the petroleum sector.

The value added from petroleum activities rose to RO3.413bn in Q2 2026, up 14.7% from RO2.976bn in the corresponding quarter of 2025. Within this sector, crude oil activity grew 15.2% to RO2.874bn, while natural gas activity increased 11.7% to RO539.1mn.

The expansion in hydrocarbon activity can be attributed to Oman's ability to increase oil production and exports despite regional disruptions during the quarter. The country's oil and gas infrastructure has remained largely unaffected by the conflict, with major ports located outside the Strait of Hormuz, according to the International Monetary Fund.