China remains largest buyer of Oman's crude in December

MUSCAT: China remained the largest buyer of Oman's crude oil in December 2018 despite a decrease from the previous month, a monthly report by Oman's Ministry of Oil and Gas said Tuesday.

Oman's production of crude oil and condensate in December 2018 amounted to about 30.76 million barrels, with a daily average of 992,192 barrels, according to the report.

The total crude exports reached about 20.02 million barrels in the same month, the report said.  As the largest importer of Oman's crude last December, China took 87.23 percent of Oman's total crude exports, while Japan and India took a 7.76 percent and 5 percent share respectively.

The global crude oil prices witnessed a further decline last December for the world's major crude oil benchmarks.

The average price of West Texas Intermediate crude oil on the New York Mercantile Exchange fell by 7.44 US dollars from the previous trading's month to settle at 49.37 dollars per barrel.