Oman says it is conducting a feasibility study on taking a 30 percent stake in a new oil refinery project in Sri Lanka.Arab News quoted Omani Energy Minister Mohammed bin Hamad Al-Rumhy as sayin Oman Oil Co. was conducting a feasibility study regarding taking a 30 percent stake in the new oil refinery project on Sri Lanka’s south coast. The project will be Sri Lanka’s first new refinery in 52 years after Iran built a 50,000 barrel-per-day refinery near the capital, Colombo, to blend Iran light oils. Meanwhile, the Minister also said he expected global oil prices to stay in a range between $65 and $75 a barrel until the end of the year. The OPEC+ alliance was formed in 2017. Since its inception, oil prices have doubled to more than $60 per barrel, mainly as a result of a series of production cuts by its members. The official selling price (OSP) for Oman crude in May will rise by $2.50 to $66.98 a barrel, the highest in five months, Reuters calculations based on data from the Dubai Mercantile Exchange (DME) showed on Friday.However, Saudi Arabia is having a hard time convincing Russia to stay much longer in OPEC-led pact, and Moscow may agree only to a three-month extension. Should Russia pull out of the latest deal on cutting output, oil prices would drop. (Colombo Gazette) He was also quoted as saying Oman remained committed to the OPEC+ agreement until the end of 2019.Under the accord reached in December 2018, members of the Organization of the Petroleum Exporting Countries (OPEC) along with Russia and other non-OPEC producers — an alliance known as OPEC+ — agreed to reduce oil supply by 1.2 million barrels per day from Jan. 1 for six months.