Oman has weathered all the innumerable challenges of 2020 with considerable flair, even though the year started off with the untimely passing of Sultan Qaboos, then came the coronavirus pandemic and the renewal of OPEC+ production curtailments that have dealt the economy the double whammy of lower prices and lower production. The Middle Eastern nation is now trying to grapple with the second wave of COVID, adapting to a new way of life under curfew and under increasing fiscal pressure. Whilst much of this year brought no big new on Oman’s oil, its gas segment might be taking over the relay baton as the case of the giant Ghazeer field demonstrates. Oman has heretofore been consistent in its OPEC+ commitments, sticking to the 682kbpd production quota it had agreed to. Under normal circumstances Oman’s output would have been around 930-950kbpd yet difficult times necessitate difficult decisions. Hence, the 947kbpd […]