Oman''s oil, condensates output increase slightly in October 

(MENAFN - Kuwait News Agency (KUNA)) The Sultanate of Oman's total production of crude oil and condensates amounted in October 2012 to 28,723,972 barrels, a daily rate of 926,580 barrels, up 0.91 percent compared to September 2012.

The monthly report, released by the Ministry of Oil and Gas on Saturday, pointed out that the total quantities of crude oil exported abroad in October 2012 stood at 25,989,643 barrels, a daily rate of 838,376 barrels.

The Asian markets were the largest importer of Omani oil. China topped the list of importers of Omani oil during the month of October 2012 by 51 percent followed by Taiwan with 11.37 percent of the total exports.

With regard to the movement of oil markets in October 2012, the average price of American crude oil in the New York Stock Exchange stood at USD 89.83 a barrel, a decline by USD 4.97 compared to the trading of September 2012.

The average price of North Sea (Brent) stood at USD 111.04, a decline by USD 1.53 compared to the trading of September 2012.

The world crude oil prices in October 2012 trading declined as compared to the previous month affected by the weak European Economic Data and the weak data for the application to receive an employment compensation in the Unites States, in addition to the impact of the cyclone Sandy on the crude demands in the refineries of the United States at the end of the month.

The future contracts of Oman Crude Oil at Dubai Mercantile Exchange witnessed a rise as other varieties in the world according to the aforementioned factors.

The average price of Omani oil, to be delivered in December 2012, settled at USD 108.67 a barrel.