Muscat: The official price of Oman crude for August delivery reached $115.60.
According to Dubai Mercantile Energy, the price of Oman crude rose by $3.59 cents, compared to Friday’s price of $112.01.
Dr. Mohammed bin Hamad al Rumhy, Minister of Energy and Minerals, said last week that it is difficult to predict oil prices due to the conditions resulting from the
Russian-Ukrainian war and the current trends will remain until the end of this year.
He said that the global economy will continue to grow and that there are several factors that may help stabilize these prices. The situation is expected to improve by the beginning of next year or this year-end.