Russia has posted record oil production figures, reaching the highest post-Soviet figures ever seen.

Russian oil production currently ranks 2nd in the world, behind Saudi Arabia, with oil accounting for 30 percent of domestic gross product.

Russia’s energy ministry reported that 10.38 million barrels were produced daily in August. Much of the oil came from state owned oil production firm Rosneft, which is looking to carry out oil exploration in the Artic.