But Russia is Even Colder than Britain!

Russia has become almost as large a producer of oil as Saudi Arabia (and may have passed it in the odd month over the past year). Their exports play a significant part in the overall world supply so that any fluctuations in production, particularly since they lie outside OPEC can have a significant impact. Interfax gives the numbers from this January to May:

Oil exports from Russia in January-May 2005 increased 2% year-on-year to 103.8 million tonnes, the Federal State Statistics Service said, quoting Federal Customs Service figures.

According to the statistics, which include figures for Belarus, oil exports in May amounted to 22.7 million tonnes – up 11.6% from May 2004.

Oil production, not including condensate, in Russia in May 2005 amounted to 9.19 million barrels per day, in April – 8.9 million bpd, and in March – 9.21 bpd. For comparison, oil production in Saudi Arabia in these months amounted to 9.507 bpd, 9.438 bpd, and 9.322 bpd respectively.

The figure comparison with Saudi Arabia are worth looking at, given that the EIA table is showing that Saudi Arabia has been producing at 9.5 to 9.6 mbd in that time frame.

The comparison is explored in even more depth after the jump at The Oil Drum.