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Average Daily Production of Oil in Russian Federation Reaches 10.27 Million Barrels in 2011

In 2011 the daily oil production in the Russian Federation reached its highest level for the last twenty years – 10.27 million barrels. The information which comes from the Energy Ministry of Russia makes it obvious that the country has produced such a considerable volume of oil for the first time since the USSR collapsed.

It is now possible to state that the oil production gain in Russia in 2011 comprised 1.25% compared 2010. Besides, in December 2011 the Russian petroleum industry produced 10.35 million barrels a day.

These figures confirm that throughout 2011 Russia managed to keep its position of the leading oil producer in the world. At present there are no reliable calculations of the last year’s oil production volumes in Saudi Arabia. However the November figures show that the Kingdom of Saudi Arabia produced 10.05 million barrels a day on average.
The ever growing demand for the Russian oil is explained by its shortage on the Asian countries after the disaster at the Fukushima-1 nuclear power plant in March last year as well as by the civil war in Libya which resulted in the complete paralysis of the oil export from the country.

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