The World Factbook about Oman Economic performance is closely tied to the fortunes of the oil industry. Oman has proved oil reserves of 4 billion barrels, equivalent to about 20 years' production at the current rate of extraction. Agriculture is carried on at a subsistence level and the general population depends on imported food. The year 1996 was marked by higher oil production and prices. The government is encouraging private investment, both domestic and foreign, as a prime force for further economic development.
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