Oman's Oil and Gas Production Sees Strong Growth in 2026
Oman's oil and gas sector saw substantial growth during the first eight months of 2026, according to data from the National Centre for Statistics and Information. By the end of August, the country's oil production increased by 11.9% year-over-year, reaching 270 million barrels compared to 241.4 million barrels in the same period of 2025. Daily output also rose by 10.9% to 1.1 million barrels per day. Oil exports grew by 1.9%, amounting to 209 million barrels.
Monthly production figures showed steady growth, with 36.3 million barrels produced in August, up from 35.8 million in July and 34.4 million in June. Exports followed a similar trend, rising to 27.1 million barrels in August. However, the average price of Oman crude dropped significantly, falling 22.5% to $79.1 per barrel in August from $102 per barrel in July, despite a 15.5% increase across January-August to $83.3 per barrel.
The natural gas sector also experienced growth, with total domestic production and imports rising by 6.4% to 40.5 billion cubic meters. Gas consumption in power generation plants surged by 13.8% to 11.7 billion cubic meters, while industrial projects saw a 4.9% increase to 19.9 billion cubic meters. Gas use in oil fields rose by 1.5% to 8.7 billion cubic meters. Conversely, consumption in industrial zones declined by 32.6% to 126 million cubic meters.