Interesting facts!
Did you know that in 1900 more than half of the world's oil was produced in Russia?
In 1900, Russia produced 631.1 million poods of oil, or 51.6% of the world's oil production.
One hundred and eighteen years ago, oil production was conducted in 10 countries: Russia, the United States, the Dutch East Indies, Romania, Austria-Hungary, India, Japan, Canada, Germany, Peru. At the same time, Russia and the United States were the main oil producing countries, with more than 90% of the world's oil production.
The peak of the black gold extraction in Russia happened in 1901, when 706.3 million poods of oil was produced. True, the peak was followed by a recession, due to the economic crisis and a demand decrease.
The oil price, which was 16 cents per pood in 1900, droped 2 times to 8 cents per pood in 1901, because of the proposal oversupply.
In 1902, the price was 7 cents per pood, after what demand has restored and went up, as well as the oil production rate.
