Small non-OPEC producer Oman believes that an OPEC production deal is now more in sight than it was a few months ago, Omani Minister of Oil and Gas Mohammad bin Hamad al-Rumhy told the Abu Dhabi International Petroleum Exhibition and Conference (Adipec). Oman is ready to cut if OPEC reaches a deal, the minister added. “First of all, we call for cutting down of oil production and reaching an agreement between oil producers on the issue; in this case Oman is ready to cut down oil production by 5-10 percent. The second option for us is a freeze,” Rumhy told reporters on the sidelines of the conference, as quoted by news agencies. Al-Rumhy noted that the oil market was still oversupplied. “Maybe we have seen the bottom, but we don’t know how long this bottom will last,” Reuters quoted the minister as saying. A month before the […]