Billionaires. Russia slightly increased its oil production in July, ahead of OPEC+ plans to start easing record supply cuts starting this month. Russia shipped over 9 million tons of oil products to the US in the first half of 2020, the highest amount since at least 2004, customs data shows. ; Russia consumes 1.05 gallons of oil per capita every day (based on the 2016 population of 145,275,383 people), or 383 gallons per capita per year (9 barrels). ... to cut around 10 million barrels daily from production. All rights reserved. Unlike Russian statistics, US data is based not on the shipment country, but on the country of origin. Subscribe to RT newsletter to get stories the mainstream media won’t tell you Oil production in Russia remains expensive compared to other parts of the world, according to the just-published Saudi Aramco initial public offering (IPO) prospectus.. We want to hear from you.Sign up for free newsletters and get more CNBC delivered to your inboxGet this delivered to your inbox, and more info about our products and services.
The reduction amounted to around 90,000 bpd, or 16% from March. Russia and Saudi Arabia have called off their brutal price war and are now pushing dozens of major crude producers toward a deal that would slash production and help stabilize a … The United States, Norway, Canada and Brazil may add cuts that would bring the total reduction to 20 million bpd, or 20% of global supply, although the coronavirus crisis has driven down demand by as much as 30%, driving down prices. Venezuela’s oil exports crash to 77-year low amid crushing US sanctions This number exempts production of gas condensate, or light oil. This means that actual US imports of Russian oil could be even higher, as Russian customs data does not include shipments via third countries. Reuters uses the barrels/tonnes ratio of 7.33.

Data is a real-time snapshot *Data is delayed at least 15 minutes. MOSCOW, August 2. Russia has said it would increase its oil production by 400,000 bpd. According to US Energy Information Administration (EIA) data, American imports of Russian oil in the first five months of 2020 reached nearly 68 million barrels, or 9.3 million tons, exceeding Russian customs figures for the first half of the year. Russia is expected to cut its oil production by 2.5 million bpd from a baseline of 11 million bpd in May and June. The US turned out to be its second largest buyer, accounting for more than 12 percent of the shipments. The ministry data showed that Russian oil and gas condensate production rose to 39.63 million tonnes in July from 38.16 million tonnes in June, the Interfax news agency reported. Saudi Arabia and Russia have agreed to cut oil production by 10 million barrels per day following a meeting of the OPEC Plus oil-producing countries yesterday. Natural gas production in April reached 55.14 billion cubic metres, a decline of 14.3% from the same month a year earlier, the Interfax news agency also reported. It did not say why it reduced output last month. Russian energy ministry does not disclose gas condensate production separately. Tatneft cut output because storage capacity is full and European demand is weak, according to sources and data seen by Reuters last week. Russia shipped over 9 million tons of oil products to the US in the first half of 2020, the highest amount since at least 2004, customs data shows. Russia's mid-sized oil producer Tatneft said on Saturday it produced 1.994 million tonnes of oil in April, down from 2.442 million tonnes in March. The document placed Russia on a top-ten list in terms of crude production costs which stand at $42 and $44 per barrel price tags pertaining to the country’s land and offshore projects, respectively. The company operates in Tatarstan in central Russia which became the country's main oil province in the 1970s with output of 2 million bpd, helping the Soviet Union fund its arms race with the United States.

Washington switched to Russian oil products due to its attractive pricing as it needed to replace sanctioned imports from Venezuela, analysts noted. The multiweek oil-price war between Russia and its OPEC allies has finally been resolved. Russia raised oil and gas condensate output in April to 46.45 million tonnes, or 11.35 million barrels per day (bpd), from 11.29 million bpd in March, Interfax reported on Saturday, before it makes cuts this month under a global supply pact.