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Monday, 08 August 2022

T The Industry

Russia: In Third Place for Worldwide Oil Production

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Russia in June fell to the third line in terms of oil production from 10.487 million barrels per day, losing to the United States and Saudi Arabia. This is evidenced by the data of the organization “Joint Initiative on Oil Statistics” (JODI).

JODI maintains statistics on oil production since 2002. During this time, Russia, which was always on the first or second line of the rating, took the third place for the first time.

The US in June produced an average of 10.9 million barrels of oil per day, remaining the largest oil producer. The second place was taken by Saudi Arabia with a production volume of 10.489 million barrels per day.

Production in Russia, according to the organization, grew by 1.4% compared with May, in the USA – by 4.4%, in Saudi Arabia – by 4.6%. informs RIA Novosti news agency.

The volume of Saudi oil exports in June increased by 3.7%, to 7.244 million barrels per day in the month, in the USA by 20%, to 2.408 million barrels per day. Data of Russia JODI does not indicate.

In May, Russia exported 4.793 million barrels per day, and in April – 5.885 million barrels per day, according to the organization.

Refining at the US refinery rose in June by 4% compared to the previous month, to 17.668 bpd. In Saudi Arabia, oil refining also increased – by 7.3% compared to May, to 2.792 million barrels per day. Refining at the Russian refineries increased by 2.5% from May, to 5.958 million barrels per day.

The second-largest producer of oil in OPEC – Iraq – kept oil production at the level of January-May at 4.36 million barrels per day. Exports of oil from Iraq increased by 1.4%, to 3.855 million barrels per day. In Nigeria, oil exports in June rose by 9.2%, to 1.771 million barrels per day, and production fell by 2.7%, to 1.783 million barrels per day.

Source: ROGTEC

Global Energy Insight, established in 2017, as an independent online journal focused on offering Global coverage of up-to-date news and technological advances