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Article: Oman--Muscat told its Asian customers it will cut crude exports by 20% next year in order to supply domestic refining needs, a move likely to introduce increased volatility to Asia's de facto sour crude benchmark grade.(COUNTRIES)
- Article from:
- Petroleum Intelligence Weekly
- Article date:
- September 19, 2005
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OMAN -- Muscat told its Asian customers it will cut crude exports by 20% next year in order to supply domestic refining needs, a move likely to introduce increased volatility to Asia's de facto sour crude benchmark grade. The cut is equivalent to an estimated 143,000 b/d, based on current Oman crude export levels. Oman production stood at an average of 774,000 b/d in the first half of this year, down 1.2% from a year earlier. Exports stood at an average of 716,000 b/d in the year through June. Asia takes over 90% of ...