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Oman M2 money supply 2.81% y-o-y in Jun-23

- The M2 money supply in Oman witnessed a sluggish growth rate of 2.81% year-on-year in June 2023, marking the lowest growth since March 2023 and a decline from the previous period.
- The current growth rate stands 0.46 percentage points above the one-year average but is significantly below the long-run average by 8.32 percentage points. Conversely, Oman's total credit experienced a growth rate of 4.7% year-on-year in May 2023.

Oman CPI inflation 0.69% y-o-y in Jun-23

- Oman's CPI inflation rate experienced a modest growth of 0.69% year-on-year in June 2023, marking the lowest growth since March 2021.
- In comparison to the one-year and long-run averages, the inflation rate in June 2023 was 1.14pp and 1.54pp lower, respectively.

Opec: Is The End (Finally) Nigh?

• Historically, forecasts of Opec’s imminent demise have proved well wide of the mark. However, keeping the cartel together as we enter an era of permanently declining demand for oil may prove much more challenging.

By Alastair Newton

Oman CPI inflation 0.92% y-o-y in May-23

- Oman's CPI inflation rate in May 2023 stood at 0.92% year-on-year, the lowest recorded since March 2021.
- This figure is 1.09 percentage points below the average inflation rate observed over the past year and 1.32 percentage points below the long-run average.