Energy Expert: Oil Prices Below $65 Pose a Risk to Oman’s Budget

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24 June 2025
Ali Al-Riyami, an energy sector expert, warned in a live interview with “Midday Hour” on Al-Wisal Radio that any drop in oil prices below $65 per barrel presents a significant risk to the Sultanate of Oman’s national budget.

He stated that oil remains the backbone of Oman’s economy, and sharp price declines could seriously affect the country’s fiscal balance.

Al-Riyami also stressed the importance of diversifying sources of national income and enhancing the role of renewable energy in Oman’s future economic plans.

Today, following the end of the Iran-Israel war brokered by Donald Trump and a stronger U.S. dollar, oil prices fell by around 3% to $67 per barrel. This drop comes amid easing regional tensions and a partial return to stability in global energy markets.

Official Source:

Al-Riyami: If Oil Falls Below $65, Oman’s Budget Will Be at Risk – Wisal FM

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He stated that oil remains the backbone of Oman’s economy, and sharp price declines could seriously affect the country’s fiscal balance.

Al-Riyami also stressed the importance of diversifying sources of national income and enhancing the role of renewable energy in Oman’s future economic plans.

Official Source:

Al-Riyami: If Oil Falls Below $65, Oman’s Budget Will Be at Risk – Wisal FM