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Russia In July Retained Second Place In Oil Production In The World After The United States

Russia In July Retained Second Place In Oil Production In The World After The United States

Russia, in July 2020, retained in the second place in the world in terms of oil production with an indicator of 8.778 million barrels per day. The United States remains the world leader, and Saudi Arabia is in third place, according to data from the Joint Initiative on Oil Statistics (JODI).

According to JODI, production in Russia in July fell to June by 10 thousand barrels per day or 0.1%. The United States increased production by 5.7% compared to the previous month, to 11.035 million barrels of oil per day, remains the largest oil producer. Saudi Arabia took third place with a production of 8.479 million barrels per day, which is 13.3% more than in June.

Oil exports from Saudi Arabia in July increased in monthly terms by 15%, to 5.734 million barrels per day, from the United States - by 4.1%, to 2.867 million barrels. JODI does not provide data for Russia. In June, Russia exported 4.929 million barrels of oil per day, and in may-4.556 million, according to the organization.

Processing at US refineries increased in July by 5.1% compared to the previous month, to 14.438 million barrels per day. In Saudi Arabia, oil refining increased by 13% to 2.086 million barrels per day. Processing at Russian refineries increased by 5.3% from the previous month to 5.38 million barrels per day.

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