Oman’s public finances saw a notable boost in the first half of 2026, with revenues climbing 13% year-on-year to reach approximately OMR 6.602 billion. This increase comes as a result of significant gains in oil and gas revenues, as detailed in the Ministry of Finance’s Fiscal Performance Bulletin. The figures reflect a rise from OMR 5.839 billion recorded during the same period in 2025, with net oil revenues experiencing a 10% increase to OMR 3.332 billion and net gas revenues surging by 32% to OMR 1.164 billion.
The country’s oil sector continued to perform robustly, with Oman realizing an average oil price of $74 per barrel. Additionally, average daily oil production reached about 1.074 million barrels, underscoring the strength of the sector during this period.
On the expenditure side, public spending grew by 9%, totaling OMR 6.619 billion compared to OMR 6.098 billion a year earlier. Current expenditure accounted for OMR 4.369 billion of this total, while development spending by various ministries and civil units amounted to OMR 798 million. Despite the increase in spending, Oman’s public debt held relatively steady at OMR 14.16 billion, only slightly up from OMR 14.12 billion during the same timeframe last year.
The data underscores a pattern of continued growth in Oman’s fiscal health, buoyed by strong energy sector revenues. Simultaneously, the government’s expenditure has also risen, reflecting ongoing investments and development initiatives in the first half of 2026.