{
  "id": 9959610,
  "title": "Oman's economy to grow 3.5% in 2026 on favourable trade logistics, S&P says",
  "url": "https://urgent.news/2026/09/26/omans-economy-to-grow-3-5-in-2026-on-favourable-trade-logistics-s-p",
  "topic": "finance",
  "section": "Finance & Markets",
  "published": "2026-09-26T09:56:55.000Z",
  "source": {
    "name": "The National UAE",
    "slug": "the-national-uae",
    "url": "https://www.thenationalnews.com/business/economy/2026/09/26/omans-economy-to-grow-35-in-2026-on-favourable-trade-logistics-sp-says/"
  },
  "original_language": "en",
  "account": "Oman's economy is expected to grow by 3.5% in 2026, according to S&P Global Ratings. This forecast is more than double the previous estimate of 1.6% real GDP growth, and higher than the 2.3% growth Oman experienced last year. The improved growth projection is attributed to favorable trade logistics, which will help the sultanate maintain the strength of its energy industry even amidst the Iran war. Oman's trade routes are unobstructed, allowing it to expand its oil and gas production capacity. The nation's strategic location in the Gulf enables energy exports without relying on the Strait of Hormuz, which has been a point of contention during the regional conflict. Oman's Duqm, Mina Al Fahal, and Salalah ports have direct access to the Arabian Sea, further supporting its economic growth. The country is projected to increase crude oil production to 1.2 million barrels per day, which will contribute to real GDP growth until 2029. While non-oil growth may be affected by the geopolitical situation, oil production and GDP growth are expected to benefit from increased activity levels in the hydrocarbon sector. S&P also maintained Oman's long-term credit rating at investment grade (BBB-) with a stable outlook, indicating that the country's fiscal and external buffers will support it during adverse geopolitical developments. However, the agency warned that its forecasts could be negatively impacted if Iran escalates its attacks on Oman's energy and civilian infrastructure or if conflict-related spending increases, potentially reversing the government's fiscal consolidation efforts. Oman is actively pursuing an economic diversification program, away from its reliance on crude. The hydrocarbon industry plays a significant role in the country's modern infrastructure, including electric utilities, roads, public education, and medical services. Oman is also planning to establish a new economic area focused on developing its artificial intelligence capabilities to further boost its economy. S&P analysts believe that Oman will remain resilient to regional geopolitical conflicts, given its historical good relationships with its Gulf neighbors and its traditional role as a neutral player and mediator in the region.",
  "summary": "S&P Global Ratings has boosted its economic growth forecast for Oman to 3.5 per cent owing to favourable trade logistics that would help the sultanate maintain the strength of its energy industry amid the Iran war. The outlook is more than double the previous 1.6 per cent real GDP growth estimate for the sultanate, the New York-based credit ratings agency said in a statement on Friday. It is…",
  "key_points": [],
  "editors_take": null,
  "illustration": null,
  "coverage": {
    "outlets": 2,
    "also_reported_by": [
      {
        "outlet": "The National Business",
        "title": "Oman's economy to grow 3.5% in 2026 on favourable trade logistics, S&P says",
        "url": "https://urgent.news/2026/09/26/omans-economy-to-grow-3-5-in-2026-on-favourable-trade-logistics-s-p-9961392",
        "published": "2026-09-26T09:56:55.000Z"
      }
    ]
  },
  "ai_generated": true,
  "disclaimer": "Summaries, key points and the editor’s take are written by software from other outlets’ reporting and may contain errors — always check the linked original."
}