Russia overtakes Saudi Arabia as top crude oil producer - JODI

Russia overtook Saudi Arabia as world’s largest crude producer in July, according to the Joint Organization Data Initiative, Bloomberg reports on Wednesday.

Saudi Arabia’s production fell to 9.8 million barrels a day that month from 10.1 million barrels in June, when output was at its highest in more than three decades, according to government statistics posted on JODI’s website today. Exports dropped 7 percent on the month.

Russia pumped 9.92 million barrels a day of crude in July, up by 20,000 barrels from June, according to JODI, whose calculations are based on figures in metric tons submitted by the nation’s government to the Asia-Pacific Economic Cooperation forum. JODI’s data exclude natural-gas liquids.