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Tue 30 Nov 2010 11:41 PM

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Oman 9 month oil output up 6.7%

Gulf Arab state's natural gas output rose to 871 billion cubic feet in the 9 month period

Oman 9 month oil output up 6.7%
Oman sold oil at avg price of $76.58 a barrel, down 47.7% in the equivalent period year earlier(Getty Images)

Oman's oil output in the first nine months of 2010 rose by 6.7 percent from a year ago to 860,200 barrels per day (bpd), government data showed.

Oman is a small independent oil producer but the price of its oil forms part of benchmarks used in pricing Middle east crude exported from the Middle East to Asia.

Oman is targeting an output of 870,000 bpd in 2010. The country is aiming to reverse a slide in oil output for the third consecutive year in 2010 from a peak of 960,000 bpd in 2001.

Oman sold its oil at an average price of $76.58 a barrel from January to September 2009, down 47.7 percent on the price in the equivalent period a year earlier.

The Gulf Arab state's natural gas output rose to 871 billion cubic feet in the nine-month period, up 7 percent from a year earlier.(Reuters)

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