Russia races ahead of Saudi Arabia in oil output

Russia surpassed Saudi Arabia in oil production in March by producing almost 11 million barrels per day, Russian Federal Statistics Service Rosstat said.

It said Saudi Arabia produced 10.120 million barrels daily in March while Russia’s output was 10,927 million barrels.

In total, OPEC countries produced 32 million barrels a day throughout the first three months of 2016.

According to Rosstat, over the first quarter of 2016 Russia sold oil worth more than $10 billion. The share of oil sales in Russian export made up 23 percent in the first quarter of 2016, compared to 25.2 percent in the same period of 2015

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