Russia boost oil output
Russia’s crude oil output was in November higher than Saudi-Arabia with a production of more than 10 million barrels per day.
The November figure shows that Russia produced 10,07 million barrels per day, while Saudi Arabia pumped about 8,13 million barrels daily, Reuters reports. The figures from Saudi Arabia exclude condensate light oil, which is included in the Russian total, but even if the condensate figure is included, the Russian production is still higher.
November is the third month in a row that Russia is producing more than 10 million barrels per day, Reuters report.
Over the last year, the crude oil prices have more than doubled.
Russia is also the world’s largest producer of natural gas and increased its gas output by more than 9 percent month on month in November.
