Russia surpasses Saudi Arabia to become second in the world in oil production
In December 2018, Russia ranked second in the world in terms of oil production with 10.738 million barrels per day, once again surpassing Saudi Arabia, closely following the world leader, the United States, according to data from the Joint Petroleum Statistics Initiative (JODI).
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| An oil facility. Photo: Sputnik |
As JODI said, in December the United States remained in the lead with an average production of 11.658 million barrels of oil per day. The third place belonged to Saudi Arabia with an output of 10.643 million barrels per day.
Production volumes in Russia, according to the organization, increased by 0.08% compared to November, while in the United States they decreased by 0.3% and in Saudi Arabia by 4.06%.
Saudi Arabia's oil exports in December fell 6.65% on a monthly basis to 7.687 million barrels per day, the United States fell 0.17% to 2.407 million barrels per day… JODI did not report Russian data.
However, in November 2018, Russia exported 5.615 million barrels per day and in October it was 5.268 million, according to data from the JODI organization.
US refinery processing increased 2.51% month-on-month to 17.5 million barrels per day. Saudi Arabia's refinery processing decreased 5.36% month-on-month to 2.684 million barrels per day. Russian refineries increased 1.35% month-on-month to 6.002 million barrels per day.
