Russia produced more crude oil than Saudi Arabia in June, beating it to the second place of the largest oil producers in the world, behind the number-one producer, the United States, data from the Joint Organisations Data Initiative (JODI) showed. In June, Russia’s crude oil production was 8.788 million bpd , according to the data released by the JODI database, which collects self-reported figures from 114 countries. To compare, production in Saudi Arabia in the same month was just below 7.5 million bpd . June was the month in which Saudi Arabia voluntarily slashed its oil production by an additional 1 million bpd for just one month, on top of the 2.5 million bpd it was supposed to cut as per the OPEC+ deal in force since May. While Russia and Saudi Arabia are cutting production as part of the OPEC+ agreement, the United States remained the top crude […]