By the close of the second quarter of 2026, Oman’s public revenues saw a 13% increase compared to the same period in 2025, reaching around OMR 6.602 billion. This growth was largely attributed to a surge in oil and gas revenues. The Ministry of Finance’s Fiscal Performance Bulletin revealed that public revenues had climbed from OMR 5.839 billion in the previous year. Specifically, net oil revenues experienced a 10% rise to OMR 3.332 billion, and net gas revenues jumped by 32% to OMR 1.164 billion.
The average realized oil price for Oman stood at $74 per barrel, while daily oil production averaged about 1.074 million barrels. Despite these revenue gains, public expenditure also saw an upward trend, increasing to OMR 6.619 billion, a 9% hike from OMR 6.098 billion in the corresponding period of the previous year. Current expenditure expanded to OMR 4.369 billion, and ministries along with civil units contributed OMR 798 million towards development spending.
Even with the rise in expenditure, Oman’s public debt remained relatively stable. It was recorded at OMR 14.16 billion, which is only slightly higher than the OMR 14.12 billion reported during the same timeframe in the previous year. This stability in debt figures suggests that the country’s fiscal health is being managed cautiously even as spending increases.
The financial figures from the first half of 2026 underscore a period of growth for Oman’s public finances, bolstered significantly by robust energy revenues. The data reflects a balancing act between rising governmental expenditures and a stable debt profile, indicating a continued positive trajectory for the nation’s fiscal environment.