Russia overtakes Saudi as largest oil producer

[GoFlyKiteNow]

Russia has overtaken Saudi Arabia to become the world’s greatest producer of oil.

According to the latest Statistical Review of World Energy, Russia increased oil production by 1.5% in 2009, claiming a 12.9% market share.

Production in Saudi Arabia fell 10.6%, giving the country a 12% market share.

But the US has become the world's largest gas producer, surpassing Russia.

Global proven oil reserves increased 700 million barrels to 1.33 trillion barrels last year while the world's gas reserves grew by 2.21 trillion cubic meters to 187.49 trillion cubic meters.

 

[zhihau]

Russia has overtaken Saudi Arabia to become the world’s greatest producer of oil.

According to the latest Statistical Review of World Energy, Russia increased oil production by 1.5% in 2009, claiming a 12.9% market share.

Production in Saudi Arabia fell 10.6%, giving the country a 12% market share.

But the US has become the world's largest gas producer, surpassing Russia.

Global proven oil reserves increased 700 million barrels to 1.33 trillion barrels last year while the world's gas reserves grew by 2.21 trillion cubic meters to 187.49 trillion cubic meters.

pipeline between Russia and China is now open according to XinHua news :p:p:p

 

[manokie]

The future of Saudi Arabia is very dim

They have nothing but oil and a lot of spoiled sheiks

 

[Cestbon]

The future of Saudi Arabia is very dim

They have nothing but oil and a lot of spoiled sheiks

They can pump for at least another 50 year. After that technology will improve and less depending on oil.
When that happen it will be civil war in Arab. The will bring down the Sheiks and turn into Republic.

 

[Received_by_Kings]

They can pump for at least another 50 year. After that technology will improve and less depending on oil.
When that happen it will be civil war in Arab. The will bring down the Sheiks and turn into Republic.

Very fat. You are full of insane predictions. So much for fundamentalist republicans.

 

[longbow]

I wonder if this has to do with Saudi cutting back production to maintain oil prices. Russia is not a member of OPEC.

 

[zuoom]

I wonder if this has to do with Saudi cutting back production to maintain oil prices. Russia is not a member of OPEC.

most prob.

benefits them when the oil prices stay higher.