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In 2007, Russia produced roughly 9.8 million barrels per day (1.56 Ã10. 6 m 3 /d) of liquids, consumed roughly 2.8 million barrels per day (450 Ã10. 3 m 3 /d) in liquids, and exported (in net) around 7 million barrels per day (1.1 Ã10. 6 m 3 /d). Over 70 percent of Russian oil production was exported, while the remaining 30 percent was refined locally.
The data tells a different story: Alaska only produces 530,000 barrels per day, less than one-fifth of Texasâ daily output. That wasnât always the case. Alaska produced over 2 million barrels per day back in the early 1990s, but its aging fields are in decline. Its image as an oil powerhouse is becoming increasingly detached from reality.