New research by the Joint Petroleum Statistics Initiative (JODI) showed that, in February, Russia remained in second place in terms of global oil production, with a national daily output of 9.398 million barrels per day (bpd).
Data shows that the United States was the top oil-producing country in the world and Saudi Arabia was in third place. Russia held the status of the world’s second-largest oil producer for the 10th month in a row, dropping to the third spot for only one month, in April 2020. Prior to that, Russia had been in the second spot for over a year.
JODI-Oil World Database has just been updated.
61 countries updated the database with the most recent February 2021 data. #JODIData #JODIOil #OOTT #SourceJODIhttps://t.co/xNdqb9hsBF pic.twitter.com/fLjWX6VNOM
— JODI (@JODI_Data) April 19, 2021
According to the JODI, in February, Russia’s oil production decreased by 0.7% compared to January, while the US slashed production by 6.5% on a monthly basis to 10.364 million bpd, and Saudi Arabia by 10.5% to 8.147 million bpd.
Statistics also showed that, in January, Russia exported 3.702 million bpd, which was down from the 4.2 million it exported in December.
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Oil refining in Russia in February increased by 5.3% from the previous month, amounting to 5.772 million bpd, said the report. Meanwhile in the US, refining plunged by 13.3% from January to 12.67 million bpd, and in Saudi Arabia the capacity dropped by 2.6% to 2.281 million bpd.
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