Russia Holds Position As World's Second-Largest Crude Oil Producer In November - JODI

Russia Holds Position as World's Second-Largest Crude Oil Producer in November - JODI

MOSCOW (UrduPoint News / Sputnik - 20th January, 2021) Russia has held its position as the world's second-largest crude oil producer for the seventh month in a row, according to November figures published by the Joint Organisations Data Initiative (JODI) on Wednesday.

In November, Russia's crude oil output rose by 0.8 percent compared to October, with total production registered at 9.35 million barrels per day (bpd), according to JODI.

The latest figures show that Russia has held second place for the seventh month in a row, after falling to third place behind Saudi Arabia in April.

According to JODI, the United States was the world's leading crude oil producer in November with an output of 10.93 million bpd, a 4.9 percent increase from the previous month. Saudi Arabia was the third-largest crude oil producer in November with 8.

97 million bpd, an almost unchanged figure from the October estimate.

Saudi crude oil exports rose slightly to 6.35 million bpd in November, according to JODI. The United States, on the other hand, reported a drop of 3.4 percent to 2.81 million bpd.

Russia's export data for November was not reported by JODI, although exports in October stood at 4.24 million bpd, compared to 4.90 million bpd in September.

JODI data for November also showed a 3.8 percent increase in US oil refinery intake compared to the previous month, up to 13.99 million bpd. Russia reported an increase of 7.6 percent to 5.56 million bpd, as Saudi Arabia registered a fall of 2.6 percent month-on-month to 2.33 million bpd.