In January 2022, Russia produced 11.3 million barrels per day (mb/d) of crude oil and condensate, of which 10mb/d was crude oil. This makes Russia the world’s third largest producer of oil, surpassed only by the United States and Saudi Arabia (in the same period, they produced 17.6 mb/d and 12 mb/d, respectively). However, Russia is the largest exporter of oil products to global markets and the second largest exporter of crude, after Saudi Arabia.