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DUBAI (Reuters) – Oil prices range from $ 65 to $ 75 by the end of the year, Oil and Gas Minister Mohammed bin Hamad al-Rumahi said in a statement that he is satisfied with current levels of crude traded on international markets.
The overall Brent crude is trading at $ 68.39 a barrel at $ 68.39 a barrel at the end of Friday's trading.
The Sultanate is still committed to the agreement of the committee to oversee the agreement on the management of crude oil supply in the market between OPEC member states and non-member countries until the end of this year.
In response to a question about the exit of the Sultanate from the ministerial committee to monitor the agreement on the reduction of oil production between OPEC countries and third countries, Al-Rumahi said that the Sultanate supported the idea of a rotation of members of the supervisory committee approved by OPEC + group.
He explained that the Sultanate had spent two years as a member of the Committee and had therefore approved the General Secretariat of the Organization "OPEC" for the accession of another State to the Committee.
Oil and Gas Minister Mohammed bin Hamad al-Rumhi said that the Sultanate of Oman, represented by the Oman Oil Company of Oman, is currently considering the economic possibility of taking part in 30% of this oil project.
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