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Non-Opec producer Oman struggles with Opec policy

Oman, a large non-Opec producer is struggling under the wilting oil price

Mohammad Al-Ruhmy, Oman’s urbane oil minister, is not happy. Opec’s decision to leave output unchanged last November, part of a Saudi-led campaign to push costly rival North American supply out of the market, has caused collateral damage nearer to home. Oman, a member of the Gulf Cooperation Council (GCC) and the region’s largest non-Opec oil producer, is among the unintended victims.Ruhmy used a Petroleum Economist conference in Kuwait City in January to deliver his withering verdict on Opec’s decision to make market share, not revenue, its priority. Before it “declared war” on rival suppliers at the November meeting, Opec had been earning $2.7 billion to $2.8bn a day, said Ruhmy. The plung

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