Oman oil is characterized by its high quality and its need for less refining, and therefore its price rises due to several factors. One of the main factors that affect the rise in the price of Oman oil is supply and demand. If the demand for crude oil increases in global markets, companies exporting from the Sultanate of Oman will be able to request higher prices. This leads to a rise in Oman oil prices. Today, we will learn in detail about the rise in Oman oil.
Oman oil price rise
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The price of Oman oil today was set at 77 US dollars and 65 cents for delivery next March, and this price represents an increase of 75 cents compared to yesterday’s price, which was 76 US dollars and 90 cents only.
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There are other factors affecting the rise in the price of Oman oil related to geopolitical and political events in the Arab region and the world, and if conflicts or wars occur in the region, prices will rise significantly due to concern that these events will hinder oil supplies. For example, in 2019, the Aramco facility was exposed In Saudi Arabia, there was a drone attack, which led to the disruption of oil production in the Kingdom, and immediately global oil prices rose, including the price of Oman oil.
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Who owns Oman Oil Company?
The government of the Sultanate of Oman owns more than 60% of the company’s shares.
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How many petrol stations are in the Sultanate of Oman?
The Sultanate of Oman has more than 200 stations distributed throughout the Sultanate.
Where does the Sultanate of Oman import oil from?
The Sultanate of Oman imports oil from China, which topped the list of countries that export oil.
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2024-01-19 18:20:00
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