Oman is ready to cut its oil output

Market news

18 January 2016

Oman is ready to cut its oil output

News reported on Monday that Oman, the largest non-OPEC oil producer, is ready to cooperate and to lower oil production, if the other oil producer will do the same.

"Oman is ready to do anything that would stabilize the oil market. 5% or 10% is what I think we need to cut and everyone has to do the same," Oman's oil minister, Mohammad bin Hamad al-Rumhy, said on Monday.

Saudi oil minister Ali al-Naimi calls for cooperation among oil producing countries

OPEC’s monthly report: oil prices will start to recover this year

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