Saudi Arabia reaches the highest level of oil production in its history and occupies the world forefront

amounted to 10.19 million barrels, compared by 10.12 million barrels from Russia, a difference of 69 thousand barrels per day.

According to the analysis of a special "Aleqtisadiah", newspaper Saudi Arabia's oil production during the first nine months of this year, is the highest in its history at all followed by 2012, with an average daily 9.8 million barrel production, when oil prices (Brent) was at a higher average price Yearly about $ 112 a barrel.

Saudi Arabia recorded the lowest average daily production of oil in 2009 and 2010, at 8.2 million barrels per day, which are the two years that exceeded the Russian production by its Saudi counterpart with 1.7 million barrels per day in 2009, and about two million barrels per day in 2010, then the price of oil was at $ 63 , and $ 80 respectively.

The average daily production of oil worldwide raised 1.8% during the first nine months of this year, to reach 74.2 million barrels per day, higher than the level in 2014, amounting to 72.8 million barrels a day by about 1.3 million barrels.

With the decline in oil prices during the current year, the top producers raised their production in an attempt to compensate the low prices, and the preservation of their shares in the market.

Oil prices have fallen by 43%, equivalent to US $ 43.6 per barrel during the first nine months of this year, to an average of about $ 56.8 per barrel, compared to US $ 100.4 per barrel in 2014.

The ten largest producers of oil formed 70% of the total global production in the first nine months of this year, about 51.7 million barrels a day, compared to 69% at about 50.3 million barrels a day last year.

The rise in global oil production during the first nine months of this year, came mainly from increased production of the United States by 7.5%, equivalent to 651 thousand barrels per day, then Saudi Arabia by nearly 5 per cent is equivalent to 472 thousand barrels per day, and Iraq 8.7%, equivalent to 271 thousand barrels per day.