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How much crude oil does Russia produce?



Russia produces large amounts of many energy resources such as oil, natural gas and coal.



16.Nov.16 11:33 AM
By Alesya Davydova
Photo Toinnov.com

   242

How much crude oil does Russia produce?

Russia is a significant player on the global energy market. The country is the world’s largest crude oil producer and second-largest producer of natural gas.

According to the official data from Russian Energy Ministry, in 2015 Russia was the world’s biggest crude oil producer and third-largest producer of various oil products such as petroleum and other liquids after Saudi Arabia and the United States of America. Last year Russian average daily output reached the level of 11 million barrels per day.

Crude oil producing industry in Russia is concentrated mainly in two regions. They are West Siberia and the Urals-Volga regions. At the same time production from East Siberia, Russia's Far East, and the Russian Arctic has been growing.

Due to large amounts of produced crude oil and oil products Russian economy is highly dependent on oil exports and global crude prices. In 2015 40% Russian federal budget was made of oil and natural gas revenues. Last year the situation around oil prices got extremely acute as analysts’ predictions swung from $20 to $80 per barrel. 




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