In the first half of 2026, Oman experienced a notable 13% increase in public revenues compared to the same period in the previous year, reaching around OMR 6.602 billion. This growth was largely attributed to a surge in oil and gas revenues. The latest Fiscal Performance Bulletin from the Ministry of Finance revealed that public revenues had climbed from OMR 5.839 billion in 2025. Specifically, net oil revenues saw a 10% rise to OMR 3.332 billion, while net gas revenues jumped by 32% to OMR 1.164 billion.
Oman’s average oil price realized during this period was $74 per barrel, with the average daily oil production hitting approximately 1.074 million barrels. These figures underscore the significant contribution of the energy sector to the country’s financial health. The boost in revenues highlights the ongoing positive trend in Oman’s public finances, fueled by more robust returns from its energy resources.
On the spending front, Oman’s public expenditure also saw an increase, reaching OMR 6.619 billion—an uptick of 9% from OMR 6.098 billion the previous year. Current expenditure climbed to OMR 4.369 billion, reflecting the government’s ongoing operational costs. Additionally, development spending by ministries and civil units amounted to OMR 798 million, underscoring the government’s commitment to infrastructure and other developmental projects.
Despite the rise in both revenue and expenditure, Oman has managed to maintain its public debt at a relatively stable level. By the end of the second quarter of 2026, public debt stood at OMR 14.16 billion, a slight increase from OMR 14.12 billion in the same period the prior year. This stability in public debt illustrates the government’s effective fiscal management amidst rising financial activities.
The financial data from the first half of 2026 indicates a continuing trend of economic growth for Oman. The increase in energy revenues has significantly supported the nation’s public finances while allowing for expanded government spending. This financial resilience points to a stable economic trajectory, which is crucial for the country’s development goals.