Oman has reported a significant rise in its public revenues, reaching approximately OMR 6.602 billion by the end of the second quarter of 2026, marking a 13% increase compared to the same period in 2025. The growth is primarily attributed to heightened oil and gas revenues, as outlined in the Ministry of Finance’s Fiscal Performance Bulletin. During this period, net oil revenues saw a 10% rise to OMR 3.332 billion, while net gas revenues surged 32% to OMR 1.164 billion.
The country benefited from an average realized oil price of $74 per barrel, with daily production averaging around 1.074 million barrels. This robust performance in the energy sector played a key role in bolstering Oman’s public finances, despite a corresponding rise in public expenditure.
Oman’s public expenditure climbed to OMR 6.619 billion, reflecting a 9% increase from the OMR 6.098 billion recorded in the prior year. The rise in spending was evident in current expenditure, which grew to OMR 4.369 billion, and in development spending by ministries and civil units, which reached OMR 798 million.
Despite the uptick in government spending, Oman’s public debt remained largely stable. By the end of the second quarter of 2026, the public debt stood at OMR 14.16 billion, only a slight increase from OMR 14.12 billion during the same timeframe in the previous year. The figures suggest a balanced approach to managing the nation’s finances, with growth in energy revenues supporting both increased expenditure and debt stability.