By the end of the second quarter of 2026, Oman experienced a 13% increase in public revenues, reaching approximately OMR 6.602 billion. This growth was primarily fueled by a rise in oil and gas revenues. Compared to the same period in 2025, when public revenues stood at OMR 5.839 billion, this represents a significant upward trend. Specifically, net oil revenues went up by 10%, amounting to OMR 3.332 billion, while net gas revenues saw a notable 32% increase, reaching OMR 1.164 billion.
Oman’s average realised oil price was recorded at $74 per barrel, with daily oil production averaging around 1.074 million barrels. In tandem with rising revenues, public expenditure also saw an increase, totaling OMR 6.619 billion, which is a 9% rise from OMR 6.098 billion in the previous year. This increase in spending included a rise in current expenditure to OMR 4.369 billion and development spending by ministries and civil units amounting to OMR 798 million.
Despite the uptick in spending, Oman managed to maintain a relatively stable public debt level. By the end of the second quarter, the public debt was recorded at OMR 14.16 billion, only a slight increase from OMR 14.12 billion during the same timeframe in the previous year. This stability in debt levels, despite increased expenditures, highlights the balancing act achieved by the government in managing its finances.
Overall, the figures suggest a continued positive trajectory in Oman’s public finances, largely supported by stronger energy revenue streams. The government’s ability to increase spending while keeping debt stable reflects a strategic approach to leveraging the country’s natural resources to drive economic growth during the first half of 2026.