Russia overtakes Saudi Arabia as top oil producer

Russia took the crown from Saudi Arabia as the biggest oil producer in the world in December. The nation pumped 10.49 million barrels a day (b/d), down 29,000 b/d from […]

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By Priyanka Shrestha

Russia took the crown from Saudi Arabia as the biggest oil producer in the world in December.

The nation pumped 10.49 million barrels a day (b/d), down 29,000 b/d from November.

Saudi Arabia also saw a fall in output to 10.46 million b/d in December from 10.72 million the month before, according to new statistics from the Joint Organisations Data Initiative.

The US was said to be the third largest producer, at 8.8 million b/d in December. Iraq came in fourth at 4.5 million b/d, followed by China at 3.98 million b/d.

Last year, Saudi Arabia and other producers from the Organisation of Petroleum Exporting Countries (OPEC) decided to restrict supplies by 1.2 million b/d for six months starting in January this year.