Oman witnessed a significant boost in its public revenues, which surged by 13% to reach around OMR 6.602 billion by the end of the second quarter of 2026. This increase was primarily fueled by a rise in oil and gas revenues. Data from the Ministry of Finance’s Fiscal Performance Bulletin reveals that revenues had previously stood at OMR 5.839 billion during the same period in 2025.
Net oil revenues experienced a 10% growth, totaling OMR 3.332 billion, while net gas revenues saw an impressive 32% increase, reaching OMR 1.164 billion. The average realized price of oil was recorded at $74 per barrel, with daily production averaging approximately 1.074 million barrels, highlighting a robust energy sector performance.
On the expenditure side, Oman recorded an increase, with public spending rising to OMR 6.619 billion, up 9% from the previous year’s OMR 6.098 billion. The breakdown of expenditures shows that current expenditures climbed to OMR 4.369 billion, while development spending by ministries and civil units amounted to OMR 798 million.
Despite the increase in public spending, Oman’s public debt remained relatively stable, reported at OMR 14.16 billion, compared to OMR 14.12 billion during the previous year. These figures underscore the nation’s ability to balance its fiscal policies through enhanced energy revenues, even amidst increased government spending during the first half of 2026.