Russia's July Oil Production Exceeds Saudi Arabia's - State Statistics Service

Russia in July managed to beat Saudi Arabia in oil production volume, having produced an average of 10,597,000 barrels a day, the Russian Federal State Statistics Service said in a report Friday.

MOSCOW (Sputnik) – In July, Saudi Arabia produced 10,477,000 barrels of oil per day, according to the report. In June, Saudi Arabia was exceeding Russia in oil production, with 10,447,000 barrels per day compared to 10,136,000 barrels produced by Russia daily.

In total, the Organization of the Petroleum Exporting Countries (OPEC) states extracted 33,106,000 barrels per day in July, according to the report.

The share of oil exports in the total volume of Russian exports amounted to 25.8 percent in January-July, as compared to 26.9 percent in the same period in 2015, the report said.

According to the report, the average export price for Russian oil stood at $311.3 per tonne in July 2016.