Russia continued to be the world’s largest oil producer in January for the second consecutive month, official data showed on Tuesday.
Russia’s daily oil output averaged at about 10.8 million barrels in January, slightly more than 10.5 million barrels in December, according to data released by the Russian Federal State Statistics Service (Rosstat).
Saudi Arabia trailed behind in these two months, with its daily output averaging 9.95 million barrels in January, the data showed.
Saudi Arabia ranked the world’s No. 1 oil producer in November, pumping oil at a rate of 10.6 million barrels per day compared to Russia’s 10.4 million.
Crude oil accounted for nearly 30 percent of Russia’s total exports in January, up from 25 per cent in the same period last year, Rosstat data showed. Read More…