Oman’s oil ministry said the country’s condensates production hit a new record of 221,000 bpd in July, increasing from 211,000 bpd in June and 145,000 bpd in July last year. Condensate output is exempted from Oman’s OPEC+ production curb obligations. Hence, the Middle Eastern country can continue to pump more condensates.
The country’s total crude and condensate production averaged about 892,000 bpd last month, marginally lower than June. Crude output fell to 671,000 bpd as Oman voluntarily cut production beyond its OPEC+ quota.
The country pledged to limit its oil production at 682,000 bpd in May, June and July, and then ease the limit to 722,000 bpd in August and the rest of the year. In June, Oman managed to pump below its quota in May but produced 683,600 bpd in June. Oman’s crude and condensate exports fell 13% to 778,000 bpd in July from 899,000 bpd in June.
