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World oil prices

Russia outpaces Saudi Arabia by average daily oil production in June

MOSCOW, August 25. /TASS/. Russia’s crude production amounted to 10.18 mln barrels per day in June 2017, outpacing Saudi Arabia’s oil production by 2.3% (9.95 mln barrels per day), according to the documents released by the state statistics service Rosstat on Friday.

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The total daily production of OPEC nations stood at 32.61 mln barrels in June, including 4.5 mln barrels produced in Iraq, the report said.

The average actual export price of oil amounted to $336.4 per tonne in June 2017, a 4.9% decrease compared with May. The price for Urals crude oil on the global market was $333.3 per tonne in June, a 7.1 drop compared with May.

The share of oil export amounted to 27.3% in the total volume of Russian exports in the first half of 2017, and to 43.7% in the export of fuel and energy commodities (versus 25.4% and 43.1% in January - June 2016, respectively), Rosstat said.

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