Muscat – The Sultanate of Oman has announced that it will voluntarily cut production of 40,000 barrels of crude oil per day, starting from May until the end of 2023, in coordination with countries participating in the ‘OPEC Plus’ agreement.

The Ministry of Energy and Minerals explained that this voluntary cut is a precautionary measure, and was agreed at the 33rd ministerial meeting of OPEC Plus on October 5, 2022.