Jul 31, 2020
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Russia again became the world leader in oil production

Data from the energy departments of the Russian Federation and the United States and from the OPEC report indicate that Russia regained world leadership in oil production in May.

how writes RIA Novosti, RF until July 2018 was the world leader in terms of oil production, but in August the USA became the first in this indicator. In April 2020, Russia dropped to third place, passing Saudi Arabia to second.

According to the data provided by the Russian Ministry of Energy, the Russian Federation produced 39.74 million tons of oil in May, which is equivalent to 9.4 million barrels per day. In April, this figure was higher - 11.34 million barrels per day, but the drop in production in Saudi Arabia was even more significant. The OPEC report says 8.479 million barrels per day produced in the kingdom, down 27% from the April figure.

The US Department of Energy announced a decrease in production in May compared to April by 16.6%. The United States produced 11.99 million barrels per day in April.

On July 28, Russian Urals oil, which since the end of April has been trading at a premium to the Brent benchmark, in North-Western Europe became cheaper than the North Sea oil mixture by $ 0.13 per barrel, reported.

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