1) Oman is a key producer in the NOPEC clan, and is expected to cut production by ~46,000 bpd to help the cause. At this juncture, it seems that Russia is the only other NOPEC member that is willing to cut (no Brazil, Azerbaijan attending the NOPEC meeting).

Oman is the largest producer in the Middle East who is not a member of OPEC, and plans to raise $1.5 – $2 billion next year via a bond issuance in an effort to plug its deficit. This is hot on the heels of Saudi Arabia, who sold $17.5bln of debt in October. Oman’s budget deficit widened 55 percent year-on-year in September to 180.5 million rials. Its budget deficit was 17 percent of its GDP in 2015; quite the ski slope:

2) Omani crude exports have been on a similar trajectory to those of its Middle Eastern neighbors in recent times; exports have averaged over 900,00...