Oman Raises Production to 420,000 b/d
Non-OPEC Oman, which is currently selling its oil on the basis of a spot-related price formula (MEES, 18 February), has raised its crude oil output to 420,000 b/d, according to Omani Oil Minister Satid al-Shanfari. This compares with the previous 1985 target of 400,000 b/d. Mr. Shanfari told a local newspaper that the increase was designed to "maintain the local and international equilibria."
Meanwhile, Oman announced that its...