Russia To Overtake Saudi Arabia As The Largest OPEC+ Oil Producer ...Middle East

Saudi Arabia will lose its status as the largest OPEC+ oil producer to Russia as it begins the unilateral cut of 1 million barrels per day (bpd), with the Kingdom pledging to pump around 9 million bpd in July and August—the lowest level in two years.   Excluding the deep cuts during the pandemic, a Saudi production of just around 9 million bpd would be the lowest level the world’s top crude oil exporter has pumped since 2011. “The Kingdom’s crude output is set to plunge to a two-year low of around 9 mb/d in July…

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