Russia overtook Saudi Arabia as the world’s largest crude producer in December, when both countries started restricting supplies ahead of agreed cuts with other global producers to curb the worst glut in decades. The U.S. was the third-largest producer, at 8.8 million barrels a day in December compared with 8.9 million barrels a day in November. Iraq came in fourth at 4.5 million barrels a day, followed by China at 3.98 million barrels a day.
Russia Overtakes Saudi Arabia as World’s Top Crude Oil Producer
