By the close of the second quarter in 2026, Oman experienced a significant upswing in its public revenues, which surged 13% from the previous year, reaching around OMR 6.602 billion. This rise was primarily fueled by a boost in oil and gas revenues. Compared to the same timeframe in 2025, when revenues stood at OMR 5.839 billion, the increase highlights the nation’s robust fiscal performance.
Breaking down the revenue sources, Oman saw its net oil revenues climb by 10%, totaling OMR 3.332 billion, while net gas revenues soared by 32%, amounting to OMR 1.164 billion. The country managed to achieve an average realized oil price of $74 per barrel, with daily production averaging roughly 1.074 million barrels. These figures underscore the country’s reliance on its energy sector as a key driver of economic growth.
On the expenditure side, Oman’s public spending also rose, reaching OMR 6.619 billion, marking a 9% increase from OMR 6.098 billion recorded a year earlier. Current expenditures hit OMR 4.369 billion, and development spending by ministries and civil units reached OMR 798 million. These spending figures reflect the government’s commitment to sustaining growth and development across various sectors despite the heightened expenses.
Despite this uptick in spending, the country managed to maintain stability in its public debt, which was recorded at OMR 14.16 billion. This is only a slight increase from the OMR 14.12 billion noted during the same period last year, indicating a balanced fiscal strategy in managing the nation’s finances.
Overall, the figures from the first half of 2026 depict a positive trajectory for Oman’s public finances. The substantial increase in energy revenues has provided a solid foundation for economic growth, while the government’s increased expenditure underscores its focus on development and sustainability. As Oman navigates the complexities of global markets, maintaining this balance between revenue growth and expenditure will be crucial for its continued fiscal health.