By Manal Abdel Fattah
The Sultanate of Oman announced the extension of its voluntary reduction of 42 thousand barrels per day of crude oil, for the second quarter of this year until the end of June 2024, in coordination with some countries participating in the “OPEC Plus” agreement. The additional reduction amounts will be restored gradually according to market conditions.
The Ministry of Energy and Minerals in the Sultanate of Oman explained that this voluntary reduction is in addition to the voluntary reduction of 40,000 barrels per day, which the Sultanate of Oman announced in April 2023 AD, and will continue until the end of December 2024 AD.
Oman confirmed that this additional voluntary reduction comes to enhance the precautionary efforts made by OPEC Plus countries to support the stability and balance of oil markets.
