By the close of the second quarter of 2026, Oman experienced a 13% increase in public revenues, reaching around OMR 6.602 billion. This growth was largely fueled by higher revenues from oil and gas sectors. The Ministry of Finance’s Fiscal Performance Bulletin highlighted that revenues had climbed from OMR 5.839 billion during the same period in 2025. Specifically, net oil revenues saw a 10% rise to OMR 3.332 billion, while net gas revenues surged by 32% to OMR 1.164 billion.
The average oil price realized by Oman was $74 per barrel, with daily production averaging approximately 1.074 million barrels. This solid performance in the energy sector has been instrumental in boosting the nation’s public finances. At the same time, public expenditure increased to OMR 6.619 billion, marking a 9% rise from OMR 6.098 billion the previous year. Current expenditure reached OMR 4.369 billion, with development spending by ministries and civil units amounting to OMR 798 million.
Despite the uptick in government spending, Oman managed to maintain a stable public debt level. As of the end of the second quarter, public debt stood at OMR 14.16 billion, barely changed from OMR 14.12 billion at the same point last year. This stability in debt levels, alongside rising revenues, underscores a balanced fiscal management approach amid increasing expenditures.
The data suggests that Oman continues to experience robust growth in its public finances, buoyed by stronger revenue streams from the energy sector. This financial resilience has occurred alongside increased government expenditure during the first half of 2026, reflecting both ongoing and new investments in the nation’s development objectives.