Oman witnessed a notable increase in public revenues, which climbed by 13% year-on-year, totaling around OMR 6.602 billion by the close of the second quarter of 2026. This surge is largely attributed to enhanced revenues from oil and gas sectors. The Ministry of Finance’s Fiscal Performance Bulletin highlights this growth, illustrating a rise from OMR 5.839 billion recorded in the corresponding period of 2025. Specifically, net oil revenues experienced a 10% increase, reaching OMR 3.332 billion, while net gas revenues saw a substantial 32% rise to OMR 1.164 billion.
The data also reveal that Oman achieved an average realized oil price of $74 per barrel, with daily production averaging approximately 1.074 million barrels. This robust performance in the energy sector has been a significant contributor to the growth in the country’s public finances. Meanwhile, public expenditure also saw a rise, amounting to OMR 6.619 billion, which marks a 9% increase from the OMR 6.098 billion spent in the previous year. Current expenditure alone reached OMR 4.369 billion, complemented by OMR 798 million allocated to development spending by ministries and civil units.
Despite the increase in both revenue and expenditure, Oman managed to maintain its public debt at a stable level. The figures stood at OMR 14.16 billion, only slightly above the OMR 14.12 billion recorded during the same timeframe the previous year. This stability suggests effective management of the nation’s fiscal policy amidst rising expenses.
The growth in Oman’s public finances reflects the country’s strengthened energy revenue streams and its ability to balance increased expenditure without significantly expanding its debt. The financial performance during the first half of 2026 underscores the positive trajectory of Oman’s economic stability, driven by strategic utilization of its oil and gas resources.