Oman’s public finances have seen a significant boost, with revenues climbing 13% year-on-year to reach approximately OMR 6.602 billion by the end of the second quarter of 2026. This increase is primarily attributed to a rise in oil and gas revenues, as detailed in the Ministry of Finance’s Fiscal Performance Bulletin. In comparison, public revenues stood at OMR 5.839 billion during the same period in 2025.
A closer look at the figures reveals that net oil revenues grew by 10% to OMR 3.332 billion, while net gas revenues surged by 32% to OMR 1.164 billion. The average realized oil price was recorded at $74 per barrel, with daily production averaging around 1.074 million barrels. This uptick in energy revenues has been a driving force behind the country’s improved fiscal performance.
On the expenditure side, Oman also saw an increase, with public spending reaching OMR 6.619 billion, marking a 9% rise from OMR 6.098 billion the previous year. Current expenditure accounted for OMR 4.369 billion, while development spending by ministries and civil units totaled OMR 798 million. Despite these rising costs, the nation’s public debt remained relatively stable, reported at OMR 14.16 billion compared to OMR 14.12 billion in the same period last year.
These figures underscore a trend of continued growth in Oman’s public finances, buoyed by robust energy sector revenues. The simultaneous rise in government spending highlights the balancing act between fostering development and maintaining fiscal stability as the country navigates the economic landscape of 2026.