02 January 2013

RUSSIA / SAUDI ARABIA / COLOMBIA / ENERGY : Moscow Surpasses Riyadh In 2012 Oil Production; Bogota Hits 1 Million BPD.

       Especially for barrelheads

      In 2012...Moscow hit a post-Soviet high in oil output...but nat gas production declined by 2.3%.
     Russia finally surpassed the Saudis in oil production...with 10.4 million bpd.
     But experts say only the Saudi's have the ability to rapidly ramp up their production whenever they choose.
     Also...in December 2012...Colombia finally hit the 1 million bpd oil production mark.