Oman Oil Price Rises by $1.06 per Barrel: What It Means for Investors and Business Growth in Oman
The official price of Oman crude oil for March delivery reached $59.67 on Tuesday, marking an increase of $1.06 from Monday’s price of $58.61.
The average monthly price of Omani crude oil for January delivery stood at $64.44 per barrel, reflecting a decline of 60 cents compared to the December delivery price.
At the same time, international oil prices edged slightly higher on Tuesday amid a market balancing expectations of ample global supply in 2026 against uncertainties surrounding Venezuelan crude output following the U.S. capture of President Nicolas Maduro.
By 09:30 GMT, Brent crude futures had risen 0.5%, or 30 cents, to $62.06 per barrel, while U.S. West Texas Intermediate crude increased 0.4%, or 25 cents, to $58.57 per barrel.
PVM Oil analyst Tamas Varga commented, “It is premature to evaluate the impact of Nicolas Maduro’s capture on the oil balance. What seems clear, however, is that oil supply will remain sufficient in 2026, regardless of any production changes from the OPEC member.”
Market participants surveyed in December generally expected oil prices to face downward pressure in 2026, driven by increased supply and weak demand. — Agencies
Special Analysis by Omanet | Navigate Oman’s Market
The recent rise in Oman crude oil prices to $59.67 signals moderate market optimism but also underlying volatility amid geopolitical uncertainties such as the US capture of Venezuela’s leader. For Omani businesses, this environment underscores the need to balance investment in oil-dependent ventures with diversification strategies to mitigate risks from fluctuating global demand and supply dynamics. Smart investors should closely monitor geopolitical developments and global supply trends to capitalize on opportunities while preparing for potential price adjustments in 2026.
