DUBAI, 25 Nov. Yulia Troitskaya. Saudi Arabia has regained the title of largest oil-producing country, for the first time since 2003, taking first place in the world in the production of “black gold” for the first nine months of this year, according to the Saudi newspaper “al-Eqtisadia”.
According to the newspaper, the average daily Saudi Arabia was mined in the first nine months of the current year 10,19 million barrels. Russia, which dropped to second place in the world for the extraction of hydrocarbons, for the same period produced an average of 10,12 million barrels a day.
As the newspaper notes, the current volume of oil production is the highest in the entire history of the oil industry in Saudi Arabia. Prior to that, most of the oil Kingdom was mined in 2012 — 9.8 million barrels a day when it was about 112 dollars a barrel.
According to the publication, in the first nine months of the current year oil production in the world increased by 1.8% to 74.2 million barrels per day due to the fact that major oil producers started to increase production in an attempt to retain market share and to offset the losses associated with a strong decline in oil prices.