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Oman forecast for 2.7 percent real GDP boost: Fitch
(MENAFN) Oman is forecast to see a 2.7 percent boost in the real GDP growth for this year, compared to the 2.4 percent surge recorded a year earlier.
Fitch Solutions Group attributed its projection to the growing oil and gas output as well as flourishing fixed investments in Oman.
Hydrocarbon production in Oman is expected to register a significant jump this year despite a plan OPEC set to reenact supply restrictions, Fitch affirmed.
In its report, Fitch said "our oil and gas team forecasts Oman's crude oil production to rise by 3.1 per cent in 2019, from 0.5 per cent in 2018, contributing to strongly improved net exports."
"Most of this production will come online in the second half of the year, and will largely stem from investments in enhanced oil recovery at maturing fields," it added.
Fitch Solutions Group attributed its projection to the growing oil and gas output as well as flourishing fixed investments in Oman.
Hydrocarbon production in Oman is expected to register a significant jump this year despite a plan OPEC set to reenact supply restrictions, Fitch affirmed.
In its report, Fitch said "our oil and gas team forecasts Oman's crude oil production to rise by 3.1 per cent in 2019, from 0.5 per cent in 2018, contributing to strongly improved net exports."
"Most of this production will come online in the second half of the year, and will largely stem from investments in enhanced oil recovery at maturing fields," it added.
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