By the end of the second quarter of 2026, Oman experienced a notable 13% rise in public revenues, reaching approximately OMR 6.602 billion. This increase was largely fueled by a surge in oil and gas revenues, as reported in the Ministry of Finance’s Fiscal Performance Bulletin. The figures reflect a growth from OMR 5.839 billion during the same timeframe in 2025, underscoring the positive trajectory in the nation’s fiscal health.
Specifically, net oil revenues saw a 10% increase, amounting to OMR 3.332 billion, while net gas revenues experienced a substantial rise of 32%, totaling OMR 1.164 billion. Oman achieved an average realized oil price of $74 per barrel, with daily production averaging about 1.074 million barrels. The robust performance in the energy sector played a crucial role in strengthening the country’s financial standing.
On the expenditure front, Oman’s public spending climbed to OMR 6.619 billion, marking a 9% increase from the previous year’s OMR 6.098 billion. This rise in expenditure included an uptick in current expenditure, which reached OMR 4.369 billion. Additionally, development spending by ministries and civil units accounted for OMR 798 million, reflecting the government’s commitment to advancing infrastructure and public services.
Despite the uptick in spending, Oman managed to keep its public debt relatively stable, standing at OMR 14.16 billion compared to OMR 14.12 billion in the same period of the previous year. This stability indicates a balanced approach to fiscal management, even as the nation invests in crucial sectors.
Overall, the data highlights Oman’s continued growth in public finances, driven by strong energy revenues. The increase in government expenditure, alongside stable public debt levels, suggests a strategic effort to leverage energy sector gains while maintaining fiscal responsibility through the first half of 2026.