Russia outpaces Saudi Arabia by average daily oil production in April 2019

WNM | Jun 25, 2019 at 7:39 PM

MOSCOW, June 25 (TASS) - Russia was producing 10.52 mln barrels of oil per day in April 2019 and was ahead of Saudi Arabia by 7.35%, the state statistics service Rosstat reported on Tuesday.

Saudi Arabia was producing 9.74 mln barrels of oil per day in April 2019. According to statistics, total daily production of OPEC nations was 30 mln barrels in this April, including 4.63 mln barrels per day produced in Iraq (ranked second by oil production among OPEC members).

The average actual export price of oil grew by 5.4% month-on-month to $483.8 per tonne in April 2019. The price for Urals crude oil on the global market grew 7.6% month-on-month to $522.2 per tonne in the reporting period, Rosstat said.

The share of oil exports amounted to 28.1% in the total volume of Russian exports in January-April 2019 and to 42.2% in the export of fuel and energy commodities (versus 28.4% and 44.1% respectively in January-April 2018), Rosstat reported.