
Russia to overtake Saudi Arabia as oil producer
Inspenet, July 18, 2023.
According to the forecasts of the International Energy Agency (IEA), Russia will surpass Saudi Arabia as the main oil producer within the OPEC+ group. Crude output in Riyadh is estimated to drop to 9 million barrels a day in July and August, putting the kingdom behind Russia as the leading producer in the 23-nation oil bloc.