Non-OPEC Oman will continue to cap its crude oil output at 970,000 bpd this year if OPEC and non-OPEC countries were to extend the production cuts through the end of 2017, according to a senior Omani government official. “We support any initiative that will lift oil prices. If that means extending the current agreement beyond the first six months, we will not block it,” Salim bin Nasser Al Aufi, undersecretary at the Ministry of Oil and Gas, said at a media briefing on Monday, as quoted by Times of Oman. Still, the official was quick to add: “However, we need to know the details – how long it is going to continue.” Oman is part of the group of 11 non-OPEC producers—including Russia—that had agreed to act jointly with the cartel to cut oil supply, and that pledged a total production cut of 558,000 bpd. In January, Oman said […]