By the end of the second quarter of 2026, Oman experienced a 13% increase in public revenues compared to the previous year, reaching about OMR 6.602 billion. This growth was largely fueled by a rise in oil and gas revenues. The Ministry of Finance’s Fiscal Performance Bulletin highlighted that public revenues had climbed from OMR 5.839 billion during the same timeframe in 2025. Notably, net oil revenues saw a 10% rise to OMR 3.332 billion, while net gas revenues surged by 32% to OMR 1.164 billion.
Oman’s average realized oil price stood at $74 per barrel, with daily oil production averaging around 1.074 million barrels. During the same period, public expenditure also saw an upswing, reaching OMR 6.619 billion, which marked a 9% increase from the previous year’s OMR 6.098 billion. Current expenditure rose to OMR 4.369 billion, and ministries along with civil units recorded development spending of OMR 798 million.
Despite the increased spending, Oman managed to maintain its public debt at a relatively stable level. The public debt was recorded at OMR 14.16 billion, slightly up from OMR 14.12 billion during the same period the previous year, demonstrating fiscal stability amid rising expenditures.
The data reflects a continued strengthening of Oman’s public finances, bolstered by robust energy revenues, even as government spending expanded in the first half of 2026. This financial growth underscores the country’s ongoing economic resilience, supported by its vital oil and gas sectors.