Oman Ups Oil Production
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MUSCAT — Oman has raised its oil production to 420,000 barrels per day, Petroleum Minister Said bin Ahmed al-Shanfari today was quoted as saying.
Shanfari told the independent newspaper Oman that the increase this year was designed to “maintain the local and international equilibria,” but did not elaborate.
He said Oman had no intention of joining the Organization of Petroleum Exporting Countries (OPEC) “because (Oman’s) production is modest compared with that of individual OPEC members.”
But he said it was selling its oil at the OPEC price of $28 a barrel.
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