The official price of Oman Crude Oil for July has reached US$ 35.48 per barrel, the highest in more than two decades.
An official source from Oman's Ministry of Oil and Gas, speaking to ONA, attributed the rise in crude price to a number of reasons including the continuing insecurity in Iraq which led to a decline in Iraqi oil exports, the Russian Yukos Company crisis, the increase in world demand, especially from China and USA and the concerns that the OPEC would not be able to meet the increasing demand on oil. (menareport.com)
© 2004 Mena Report (www.menareport.com)
