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. Last Updated: 07/27/2016

Saudi Output Rivaling Russia

KHOBAR, Saudi Arabia — Saudi Arabia's crude production rose to close to a 31-year high in January, matching Russia's for the first time in six years, according to the Joint Organization Data Initiative.

Saudi Arabia increased output by 0.6 percent to 9.87 million barrels a day in January, the second-highest monthly level since at least 1980, data posted Sunday on JODI's website show. It was the same as Russian production for the first time since February 2006.

The figure differs from the Russian Energy Ministry's estimate of output of 10.36 million barrels a day in January.

(Bloomberg)