Question

Why Oman is exporting its gas products to all the countries and not its oil products?

Why Oman is exporting its gas products to all the countries and not its oil products?

Homework Answers

Answer #1

Natural gas as Commodity has seen higher demand and acceptability due to its local usage for daily needs and thus demand has grown such that prices rose and thus makes viable sense to export.

However, crude oil has seen prices in negative territory due to oversupply of WTi crude oil, over storage of tankers and absolute low demand coupled with price wars from OpEC and Russia causing subdued demand and oversupply and thus rock bottom prices causing no sense to export crude oil.

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