Oman crude oil is close to $100. Global prices are rising due to concerns about energy exports

The story in brief

Expected: Oman crude oil price reached US$99.61 on Friday for October delivery, up US$4.70 from Thursday. Average monthly price of Oman crude September 2026. Oman crude nears $100; global prices rise over energy exports concerns Observer Web Team Published: 1:46 PM, Aug 21, 2026 Muscat: The Oman Crude traded for $99. 61 on Friday for the October delivery, an increase of $4.70 from Thursday. The average monthly price of Oman Crude for September 2026 delivery has been $76.36. The total estimated revenues for the Sultanate of Oman's General State Budget for 2026, calculated based on an average oil price of $60 Dollars per barrel, amounted to approximately RO 11.447 billion.

Detailed summary

Background & context

This story sits within Oman's broader reform agenda and efforts to grow Oil & Gas as a pillar of non-oil GDP. The region benefits from supportive energy prices, expansionary government budgets, and rising interest from sovereign wealth funds and foreign investors.

GCC angle

For the rest of the GCC, this is a signal on the pace of activity in Oil & Gas. Capital flows and regulatory decisions in one Gulf state typically travel across borders given the similar economic structures and the coordination inside the GCC framework.

Risks & uncertainty

There is uncertainty around the read-through: projections can be moved by swings in oil prices, by US monetary policy tightening that most GCC central banks track via dollar pegs, and by regional geopolitical events. Headline numbers may also be revised when subsequent official data is published.

What happens next?

Watch for upcoming disclosures from listed names in Oil & Gas, official macro releases for Oman, and any commentary from regulators or sovereign wealth funds. Tharwa will refresh this briefing as new public information becomes available.