Oman to cut oil export

OMAN will export 10% less oil 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 production for August-September were set at 161,000 barrels, which means a decrease of up to 722,000 barrels.

According to the deal reached by OPEC and its oil-producing allies on May 1, the agreed volume 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.