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Saudi Arabia surpassed Russia in oil production in January

Саудовская Аравия обошла Россию по добыче нефти в январе

Saudi Arabia was ahead of Russia in oil production in January 2016 by 0.49% from the Joint Organization Data Initiative (JODI).

Last month, oil production in Saudi Arabia amounted to 10.23 million barrels per day, and in Russia — is 10.18 million barrels a day, according to RNS.

In addition, JODI reported that Saudi Arabia exported in January 2016 7,835 million barrels a day, which is above the level of the previous year by 5%. In December 2015, the exports amounted to $ 7,49 million barrels per day (an increase of 4.6%).

As follows from the overview, this is the maximum data on exports since last March, when Saudi Arabia sent exports 7,898 million barrels per day. January’s figure is lower than the maximum export in March 2015 by 0.8%.

Yesterday the head of Ministry Alexander Novak said that 15 States have confirmed participation in the meeting of the countries-exporters of oil, which will be held in the Qatari capital Doha on April 17. According to him, the meeting will discuss measures to monitor the implementation of agreements.

16 February 2016 following the meeting in Doha, Russia, Saudi Arabia, Qatar and Venezuela have agreed to freeze oil production at the level of last January, but only if other manufacturers will join the initiative.

The Minister also stressed that Iran is ready to participate in this meeting.

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