Politics
Oman to reduce oil export
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OMAN will reduce the oil export by 10% in September, fulfilling the OPEC+ deal on the output cut, Ministry of Oil and Gas told buyers, Report informs, referring to TASS.
The official of the Ministry said that the quotas on the output cut for August-September were set at 161,000 barrels, which means a reduction of up to 722,000 barrels.
According to the deal reached by OPEC and its oil-producing allies on May 1, the output cut will be 9.7 million barrels in May-July, 7.7 million barrels in August-December, and 5.8 million barrels from January 2021 to April 2022. However, OPEC+ may revise the deal in December 2021.