Oil markets calmed on Wednesday after Saudi gave assurances that it had revived 41% of capacity Image Credit: Reuters

Muscat: Oman has made new oil discoveries that will raise its production by 50,000 to 100,000 barrels in the coming two to three years, the state news agency said on Saturday, citing energy and minerals minister Mohammed bin Hamad Al Rumhy.

Crude oil reserves in the Sultanate currently stand at 5.2 billion barrels, and gas reserves at around 24 trillion cubic feet, he added.