OREANDA-NEWS.   The monthly report released by the Ministry of Oil and Gas pointed out that the Sultanate’s crude oil and condensates production in June 2013 amounted to 28,447,341 barrel, an average of 948,245 barrel a day, a 4.49% rise in comparison with May 2013.

 The monthly report also added that the total exported crude oil in June 2013 amounted to 25,107,612 barrel, an average of 836,920 bpd, a 3.22% rise in comparison with last month. The report pointed out that the Asian markets have received, as usual, the bulk share of the Omani crude oil exports. China topped the list of Omani crude importers in June 2013 with 61.64% followed by Taiwan with 11.81%.

 As for the movement of the oil markets during June 2013, the average price for American crude oil in New York (Chicago) market amounted to USD 95.75 per barrel, comprising a rise by 0.79 cents compared to trading of last month. The North Sea (Brent) basket averaged USD 103.35 per barrel, comprising a rise by 0.22 cents compared to trading of last month.

 It is worth mentioning that the global crude oil price during June 2013 slightly fluctuated as the price of global crude oil slightly rose at the beginning of June due to the expectations that the policy of the US Federal Reserve continue in the economic recovery and the devaluation of the US dollar. However, the prices started declining due to a decline in the US Stock Market and a slowdown in the Chinese economy. At the end of June, minor gains were made, but did not turn the prices upward due to volatile price movements, which covered most of the month.

 On the other hand, the trading Oman Crude Oil Future Contract at Dubai Mercantile Exchange (DME Oman) witnessed a decline in price in the same month as it has been the case with other crude oils. Trading averaged between USD 97.95 and USD 102.18 per barrel. Oman crude Oil official price for August 2013 delivery eventually settled at USD 100.21 barrel a day, comprising a decline by 0.22 cents compared to July 2013.