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Oman expresses readiness to cut oil procuction.

MUSCAT, Feb 2 (KUNA) -- Oman on Tuesday expressed its readiness to slash its oil output if agreed by Organization of Petroleum Exproting Countries (OPEC) and non OPEC memebers collectivelly to cut production to stabilize oil markets. This came in a statement by Omani Minister of Oil and Gas Mohammed bin Hamad Al-Rumhi who said that Oman's initiative to cut production by 15 percent was welcomed by oil producing states. Al-Rumhi added that Omans's production is between 980,000-990,000 barrels per day and exceeded one milion bpd during last December and January. (end) ahr.ha

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Publication:Kuwait News Agency (KUNA)
Geographic Code:7OMAN
Date:Feb 2, 2016
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