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Russia has become a world leader in oil production

Prior to that leadership position held by Saudi Arabia.

20.Feb.17 9:14 PM
By Shawn Highstraw


Russia has become a world leader in oil production
Saudi Arabia, which occupies the first place in the ranking of major oil producers in the world, lost the leadership position of Russia. According to the Joint oil statistics initiative in the last months of last year, our country produced for of 10.49 million barrels of "black gold" per day, ahead of Saudi Arabia on 30 thousand barrels.

Experts from Bloomberg noted that Russia was able to overtake the main competitor for the first time since March last year. By the way, on the third line of a rating there is the US and 8.8 million barrels of oil.

Recall that in late 2016, OPEC and the countries not members of the cartel agreed to cut oil production in total 1,758 thousand barrels per day. The agreement has come into effect since the beginning of 2017. The main earners of raw materials Russia and Saudi Arabia also supported this decision. It is worth noting that our country has reduced daily oil production in December to 29 thousand barrels.

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