Russia Remains World’s Top Oil Producer in January 2017-Rosstat

By: Spytnik News/Sergei Karpukhin

Posted : 21.3.2017




Saudi Arabia’s daily output averaged 9.946 million barrels in the same period, according to the data.

January was Russia’s second month in a row as the world’s top oil producer. In December, Russia produced 10.509 million barrels per day, slightly above Saudi Arabia’s 10.443 million barrels.

Saudi Arabia was ahead of Russia in November, pumping oil at a rate of 10.625 million barrels per day compared to Russia’s 10.424 million.

Crude oil made up almost 30 percent of total Russian exports in January, up from 25.1 percent in January 2016 when oil prices bottomed out at less than $30 per barrel.

This year, the average price fetched by the exportation of Russian oil came to $369.8 per tonne ($51.77 per barrel) in January, Rosstat data showed.

The total output of the Organization of the Petroleum Exporting Countries (OPEC) fell from 33.026 million barrels per day in December to 32.139 million in January, with a drop of almost 1 million barrels taking place after the late 2016 oil producers’ deal to cut output and stabilize the market.




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