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2026-10-16T10:17:44.751Z

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Oman Oil drops to $105.76

Oman Oil drops to $105.76

A Chinese company won, after four years of negotiations, a contract for oil drilling in Oman. In the context of oil, Washington is considering easing sanctions on the "Shadow Fleet" to help lower global oil prices. The price of Oman oil declined to approximately $106.83 per barrel, then to $105.76 on World Food Day, a day when agricultural and fisheries contributions to the Omani economy increased. Additionally, Oman hosted the start of the Military Beach Volleyball World Cup in Muscat, and Oman is exploring with Kosovo ways to strengthen trade relations between the Gulf and the Balkans.

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