Russia remains world’s second-largest oil producer for 10 months in a row – report

Data shows that the United States was the top oil-producing country in the world and Saudi Arabia was in third place. Russia held the status of the world’s second-largest oil producer for the 10th month in a row, dropping to the third spot for only one month, in April 2020. Prior to that, Russia had been in the second spot for over a year.

According to the JODI, in February, Russia’s oil production decreased by 0.7% compared to January, while the US slashed production by 6.5% on a monthly basis to 10.364 million bpd, and Saudi Arabia by 10.5% to 8.147 million bpd.

Statistics also showed that, in January, Russia exported 3.702 million bpd, which was down from the 4.2 million it exported in December.

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Oil refining in Russia in February increased by 5.3% from the previous month, amounting to 5.772 million bpd, said the report. Meanwhile in the US, refining plunged by 13.3% from January to 12.67 million bpd, and in Saudi Arabia the capacity dropped by 2.6% to 2.281 million bpd.

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Article source: https://www.rt.com/business/521496-russia-second-largest-oil-producer/?utm_source=rss&utm_medium=rss&utm_campaign=RSS