Russia leads world's crude oil production
Russian oil production in March outpaced Saudi Arabia, according to the data from the Russian Federal Statistics Service Rosstat published Monday. Russian producers extracted almost 10.92 million barrels a day compared to 10.12 produced by Saudi Arabia.
Russia and Saudi Arabia are responsible for 25 per cent of the world's oil production. As of October, both countries agreed to joint venture to develop offshore oil drilling in the Arctic.