• 3 minutes Will Iron-Air batteries REALLY change things?
  • 7 minutes Natural gas mobility for heavy duty trucks
  • 11 minutes NordStream2
  • 3 hours GREEN NEW DEAL = BLIZZARD OF LIES
  • 10 hours U.S. Presidential Elections Status - Electoral Votes
  • 1 day Evergrande is going Belly Up.
  • 2 days Is China Rising or Falling? Has it Enraged the World and Lost its Way? How is their Economy Doing?
  • 1 day Monday 9/13 - "High Natural Gas Prices Today Will Send U.S. Production Soaring Next Year" by Irina Slav
  • 4 days Poland Expands LNG Powered Trucking and Fueling Stations
  • 10 hours Europeans and Americans are beginning to see the results of depending on renewables.
  • 5 days World’s Biggest Battery In California Overheats, Shuts Down
  • 4 days The unexpected loss of output from wind turbines compels UK to turn to an alternative; It's not what you think!
  • 1 day Forecasts for Natural Gas
  • 3 days Ten Years of Plunging Solar Prices
  • 3 days Extraction of gasoline from crude oil.
Irina Slav

Irina Slav

Irina is a writer for Oilprice.com with over a decade of experience writing on the oil and gas industry.

More Info

Premium Content

Oman Willing To Cut Up To 10% If OPEC Leads The Way

Small non-OPEC producer Oman believes that an OPEC production deal is now more in sight than it was a few months ago, Omani Minister of Oil and Gas Mohammad bin Hamad al-Rumhy told the Abu Dhabi International Petroleum Exhibition and Conference (Adipec).

Oman is ready to cut if OPEC reaches a deal, the minister added.

“First of all, we call for cutting down of oil production and reaching an agreement between oil producers on the issue; in this case Oman is ready to cut down oil production by 5-10 percent. The second option for us is a freeze,” Rumhy told reporters on the sidelines of the conference, as quoted by news agencies.

Al-Rumhy noted that the oil market was still oversupplied.

“Maybe we have seen the bottom, but we don't know how long this bottom will last,” Reuters quoted the minister as saying.

A month before the Algiers meeting, Oman – whose crude oil production is expected to average more than 1 million barrels per day this year for the first time ever – was much more disillusioned. At that time, Oman had definitively said it would not join the informal meetings in Algeria because it was disappointed that the cartel hadn’t managed to enact any measures to remedy low oil prices.

More recently, Oman has said it was officially supporting an output freeze and overall reduction, with the expectation that “similar measures be taken by other countries.”

Oman was one of several non-OPEC producers that had sent representatives to the OPEC-non-OPEC meeting held in Vienna on October 29 to discuss possible details of production limits. The other non-OPEC representatives included Russia, Kazakhstan, Mexico, Azerbaijan, Brazil, and Bolivia. Neither OPEC nor outside-OPEC producers, however, have officially said anything of significance about the outcome of those talks.

By Tsvetana Paraskova for Oilprice.com

More Top Reads From Oilprice.com:


Download The Free Oilprice App Today

Back to homepage





Leave a comment

Leave a comment




EXXON Mobil -0.35
Open57.81 Trading Vol.6.96M Previous Vol.241.7B
BUY 57.15
Sell 57.00
Oilprice - The No. 1 Source for Oil & Energy News