Oman’s Consumer Price Index (CPI)-based inflation fell by 1.46 percent in November compared to the same month of 2019, according to the latest data released by the National Center for Statistics and Information (NCSI).
According to the report, the inflation rate in November fell by 0.09 percent compared to October.
The price of housing, water, electricity, gas, and other fuels fell by 0.42 percent, clothing and footwear by 0.13 percent, furnishings, household equipment, and routine household maintenance by 0.25 percent; transport by 5.88 percent, communication by 0.04 percent and restaurants and hotels by 0.25 percent.
Moreover, the price of food and non-alcoholic beverages fell by 0.78 percent.
However, health witnessed a price increase by 0.02 percent; recreation and culture by 0.52 percent and education by 0.08 percent.
In another context, the Sultanate’s average daily production of crude oil during November 2020 has recorded 720,789 barrels.
The daily November average oil production has slipped by 0.04 percent m-o-m compared with October 2020 daily average production, according to the monthly report published by the Ministry of Energy and Minerals.
Additionally, the per day average exported quantities of Oman Blend crude oil recorded 777,207 barrels, and increased by 4.77 percent compared with last month.
The average price of Oman’s Crude Oil futures contract at the Dubai Mercantile Exchange similarly increased by 6.6 percent compared with the previous month.
The monthly official selling price for Oman Crude oil for January 2021 delivery – traded during November 2020 - was announced to be USD43.83 per barrel, and increased by USD2.72 compared with October 2020 official selling price.
Oman has created a new upstream oil and gas company, named Energy Development Oman (EDO). Its primary activities will be related to projects in PDO's prolific Block 6.
