Oman crude oil price breaches $74 mark

10 May 2018
POSTED BY Y Magazine

The price of Oman Crude Oil (futures) traded at $74.71 a barrel on Thursday, continuing its upward trend since the beginning of 2018.

According to a statement from Dubai Mercantile Exchange, where Omani crude is traded, the price for July delivery rose 74 cents from Wednesday’s price of $73.97 per barrel

Last month, Oman’s National Centre for Statistics and Information has announced that the average price of Oman crude oil increased by 24.80 per cent at the end of March 2018, with financial experts in Oman anticipating the rise will bode well for the Sultanate’s economy.

The International Monetary Fund had also recently estimated the deficit to gross domestic product ratio at 11 per cent for 2018.

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