Russia Surpasses Saudi Arabia

Russia oil production overtakes Saudi Arabia
Russia is extracting more oil than Saudi Arabia, making it the biggest producer of “black gold” in the world, figures show.

The statistics, from the OPEC, reflect a trend that has seen the Russians periodically surpass the Saudis as the world’s biggest oil producers on and off since 2002.

These latest figures are being hailed in Russia as evidence that such periodic production spikes are not one-offs though and that Moscow really does have a right to lay claim to the No 1 spot.

According to OPEC, Russia extracted 9.236 million barrels of oil a day in June, 46,000 more than Saudi Arabia.

Russia has surpassed Saudi Arabia in energy exports for years, thanks to its large exports of natural gas. Now it even surpasses Saudi Arabia in terms of oil exports alone.

About Curzon

Lord George Nathaniel Curzon (1859 - 1925) entered the British House of Commons as a Conservative MP in 1886, where he served as undersecretary of India and Foreign Affairs. He was appointed Viceroy of India at the turn of the 20th century where he delineated the North West Frontier Province, ordered a military expedition to Tibet, and unsuccessfully tried to partition the province of Bengal during his six-year tenure. Curzon served as Leader of the House of Lords in Prime Minister Lloyd George's War Cabinet and became Foreign Secretary in January 1919, where his most famous act was the drawing of the Curzon Line between a new Polish state and Russia. His publications include Russia in Central Asia (1889) and Persia and the Persian Question (1892). In real life, "Curzon" is a US citizen from the East Coast who has been a financial analyst, freelance translator, and university professor; he is currently on assignment in Tokyo.
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7 Responses to Russia Surpasses Saudi Arabia

  1. CHETO says:

    THE US IS THE MIGHT IN THE WORLD BUT NOT THE SMARTEST—FOR NOT PRODUCING NEW TYPES OF ENERGY…… BECOUSE THEN THEY WOULD’NT HAVE TO DEPEND ON ANYONE ELSE….

  2. Jerry says:

    Hmm Russia has too many nukes. It will be too risky to invade them and steal their oil :-P

  3. tdaxp says:

    Very good post.

    When Europeans talk about global warming, they mean Russia. Whatever the ideas of the useful idiots on the green-left, the goal of cap-and-trade is to disentangle our allies in Europe from that angry gnat called Russia.

  4. abwehr says:

    Samatlor, Russia’s giant similar to Gahwar in the Kingdom. is past peak production Russia’s reserves to production ratio is less than 8:1-with offset new reserves in expensive remote areas.

    The out producing claim ignores the realities of at least 2mmb/d of Saudi surge capacity- an ability Russia does not have.

  5. kurt9 says:

    Bully for the Russians. Now they can sell all of that oil and natural gas to the Chinese and Europeans. China would make an excellent market. Unlike the West, the Chinese have no desire to bully anyone around about their government, human rights, etc. China borders Russia and the pipelines can be built far enough east as to avoid Muslims R’ Us in Central Asia. As China grows and grows economically and militarily (and Russia declines), the Chinese can offer to be a guaranteer of Russia’s security against Muslims R’ Us in the south. The Chinese, in return, get a free hand in economic dealings with Central Asia, including tapping all of that Caspian Sea oil as well (and Iranian natural gas). Since China’s economy will be so big by that time, there will be more than enough market for oil and natural gas (even with all of those Chinese nuclear plants) that there will be no need for Iran, the Caspian Sea countries, and Russia to fight over market share.

  6. UNRR says:

    This post has been linked for the HOT5 Daily 9/17/2009, at The Unreligious Right

  7. T. Greer says:

    Eh, this does not mean much. Or does, but the real significance of this news is not outlined here.

    The Saudis (as well as the rest of OPEC) have been cutting production to raise prices. The Russians are only producing more than the Saudis because they decided now was not the time to play OPEC’s game. If Saud were to raise production to its full capacity it could easily outstrip Russia’s production. As Carola Haryos said over at FT Energy Source (the best energy blog out there, IMO), “the bear free-rides on Opec’s efforts to maintain oil prices.”

    Russia’s relations with the various OPEC states are on the descent, I think.