Oman is considering cutting its oil output in June by another 10,000 to 15,000 barrels per day, the Omani oil minister said on Friday, after Saudi Arabia and other Gulf OPEC producers also made additional cuts to reduce a global glut, Report informs, citing Arab News.
“It is likely that this cut will be effective from June,” Mohammed Al-Rumhy said of Oman’s plans after the country had earlier signed up to making cuts in May and June alongside other members of the OPEC+ group.