Russia becomes world biggest oil producer surpassing Saudi Arabia

Russia becomes world's biggest oil producer - 09 Sept 09

For decades the world's major oil producers have tried to control prices by cutting or raising supplies, which relied on all of them sticking to agreed quotas.

But unity amongst oil-rich nations appears to be crumbling.

Now Russia has just overtaken Saudi Arabia as the world's biggest producer and it's done it by failing to keep its promise to slow down production.

Neave Barker reports from Moscow.
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Is Peak Oil Real ?

September 2006
Is the age of cheap oil about to come to an end? According to many experts, we are about to reach the point of "peak oil" -- the level at which supply can no longer keep up with demand. This, say the doomsayers, could send economies spinning into turmoil and up-end our comfortable, urban lifestyles. But others claim predictions like this are simply scaremongering. They believe supply will match demand for decades to come. So who's telling the truth? 'Peak Oil' investigates.

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Oil Prices continue to fall

Oil falls as unemployment rises

Outlook For Oil Prices
Sept. 7 (Bloomberg) -- Crude oil traded near $68 a barrel on speculation OPEC will maintain curbs on output as supplies stay ample at the end of the U.S. peak summer demand season.
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