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Oman: Rising oil revenues to the rescue once again

Higher oil prices and production look set to rescue the Omani budget, after three years when the fiscal situation looked to be spiralling ever downward. With well over half of oil output already forward-sold on the Dubai Mercantile Exchange, and with the latest price for delivery in December at $75.98 a barrel (/bbl), average crude oil prices for 2018 are widely now expected to reach about $70/bbl, compared with a budget assumption of $50/bbl.

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African Energy Gulf States Newsletter