MOSCOW (Sputnik) — Russia was the biggest oil producer in the world for two consecutive months in December 2016 and January 2017.

According to Rosstat, both countries reduced their output in one month, Russia produced 9,671 million barrels per day in February, while Saudi Arabia’s daily production stood at 9,797 million barrels.

The Russian agency added that the total output of the Organization of the Petroleum Exporting Countries (OPEC) also decreased down to 31,958 million barrels per day in February from 32,097 million barrels per day in January.

Both Russia and Saudi Arabia are cutting their oil output to support global crude oil prices within the framework of the OPEC agreement supported by 11 non-cartel states.


Source link Original Sputnik News

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