By the close of the second quarter in 2026, Oman experienced a 13% rise in public revenues compared to the previous year, reaching about OMR 6.602 billion. This increase was largely propelled by a boost in oil and gas revenues. The Ministry of Finance’s Fiscal Performance Bulletin revealed that public revenues had grown from OMR 5.839 billion in 2025. Specifically, net oil revenues increased by 10% to OMR 3.332 billion, and net gas revenues saw a significant 32% jump to OMR 1.164 billion.
During this period, Oman achieved an average realized oil price of $74 per barrel. The country’s average daily oil production was approximately 1.074 million barrels. Meanwhile, public expenditure also saw a rise, hitting OMR 6.619 billion, which is a 9% increase from the previous year’s OMR 6.098 billion. Of the total expenditure, current spending escalated to OMR 4.369 billion, while development expenditures by ministries and civil units amounted to OMR 798 million.
Despite an uptick in spending, Oman managed to maintain a relatively stable public debt level, recorded at OMR 14.16 billion, only slightly higher than the OMR 14.12 billion reported during the same period in the previous year. This stability in public debt comes amidst the backdrop of increasing revenues and expenditures.
The fiscal data underscores a trend of growth in Oman’s public finances during the first half of 2026, buoyed by stronger revenues from the energy sector. The increase in government expenditure reflects ongoing investments and spending patterns, which have so far kept debt levels in check.