Russia fell to third place in terms of oil production

In November, Russia dropped to third place in terms of oil production with a figure of 10.729 million barrels per day, yielding to the United States and Saudi Arabia, according to the Joint Organisations Data Initiative (JODI). 

According to JODI, the world leadership is still held by the United States. In November, the country produced an average of 11.693 million barrels of oil per day. The second place was taken by Saudi Arabia with a production volume of 11.093 million barrels per day. 

The volume of production in Russia, according to the organization, decreased compared to October by 0.18%, in the US – increased by 1.35%, in Saudi Arabia – by 4.23%. 

Saudi Arabia’s oil exports in November in monthly terms increased by 6.9%, to 8,235 million barrels per day, the United States – by 3.6%, to 2,411 million barrels per day. Russian data JODI does not indicate. At the same time, in October, Russia exported 5.22 million barrels per day, and in September – 5.296 million, follows from the data of the organization. 

Processing at the US refinery increased in November by 4% compared to the previous month, to 17,071 million barrels per day. In Saudi Arabia, oil refining increased by 0.7% compared to October, to 2.836 million barrels per day. Processing at the Russian refinery increased by 4.8% compared to October, reaching 5.919 million barrels per day. 

The volume of oil production of the second largest producer of this raw material in OPEC – Iraq – decreased compared to October by 0.1%, to 4,455 million barrels per day. Oil exports from Iraq decreased by 2.1% to 3.809 million barrels per day. Nigeria’s oil exports in November fell by 10.6% to 1.735 million barrels per day, production decreased by 8.2% to 1.803 million barrels per day.

Tom Tompson

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