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Russia Becomes World Top Oil Producer for 7th Consecutive Month – JODI

© REUTERS / Sergei KarpukhinA worker checks the valve of an oil pipe at the Lukoil company owned Imilorskoye oil field outside the West Siberian city of Kogalym, Russia, January 25, 2016
A worker checks the valve of an oil pipe at the Lukoil company owned Imilorskoye oil field outside the West Siberian city of Kogalym, Russia, January 25, 2016 - Sputnik International
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Russia became the world’s top crude oil producer in July since the beginning of the year, the data of the Joint Oil Data Initiative (JODI) showed on Monday.

MOSCOW (Sputnik) — Russia became the world’s top crude oil producer in July for the seventh consecutive month, producing an average of 10,322 million barrels per day, the data of the Joint Oil Data Initiative (JODI) showed on Monday.

According to JODI, Russia’s oil production slightly increased, with data for June showing 10,274 million barrels a day.

A worker at an oil field owned by Bashneft, Bashkortostan, Russia. (File) - Sputnik International
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Russia Surpasses Saudi Arabia in Oil Output in May
Saudi Arabia came in second with 10,010 million barrels per day, which is a decrease of 0.6 percent from June.

The last time Moscow surpassed Riyadh in crude production was in December 2016 when Russia extracted 10.49 million against 10.465 by Saudi Arabia.

Saudi Arabia was a key player in stabilizing the oil market, agreeing to slash its output more than any other OPEC or non-OPEC oil producer. The latest monthly OPEC report showed that the country's production had fallen by an average of almost 500,000 barrels per day between December and January.

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