Definition: This entry is the total oil produced in barrels per day (bbl/day). The discrepancy between the amount of oil produced and/or imported and the amount consumed and/or exported is due to the omission of stock changes, refinery gains, and other complicating factors.
Source: CIA World Factbook - Unless otherwise noted, information in this page is accurate as of January 1, 2014See also: Oil - production map
Shares in oil giants BP and Shell surge on production cut deal
Sky News HD - 9/29/2016 4:24:49 PM
But until now the Organisation of Petroleum Exporting Countries - dominated by Saudi ... In April, Saudi Arabia said it would cut production if Iran did the same. But Iran, readmitted to world oil markets this year after being freed of economic sanctions ...
The Biggest Winners and Losers From OPEC's Oil Deal
Bloomberg - 9/29/2016 12:07:07 PM
The Organization of Petroleum Exporting Countries' agreement to cut production ends two years of Saudi Arabia's pump-at-will policies, which had sunk oil prices to the joy of drivers in the Western world and the consternation of central bankers seeking to ...
Oil Prices Surge 6% After OPEC Cuts Production For First Time Since 2008
omojuwa.com - 9/30/2016 2:43:25 PM
The world’s leading oil nations – known as Opec – have struck a landmark deal at talks in Algeria that sees the countries agree to cut output ... He added: ‘We have decided to decrease the production around 700,000 barrels per day.’
OPEC Members Agree to Cut Oil Production by November
alltechnews.org - 9/30/2016 6:39:38 PM
Oil producers in the OPEC cartel have agreed they need to cut production to address ... Details, including which countries make which cuts, will be worked out when 14-member OPEC - which produces about 40 percent of the world's crude - holds its next ...
China’s Secret Oil Stockpiles Exposed In New Satellite Images
europe.newsweek.com - 9/30/2016 7:15:26 PM
Earlier this week, OPEC—14 nations representing just under half of the world’s oil production—reached a gentlemen’s ... capacity by analyzing high-resolution satellite images of the country’s storage facilities. The company uses algorithms ...
OPEC’s ‘truce on oil prices’ could be quickly shattered by more shale production
hellenicshippingnews.com - 9/30/2016 6:03:51 PM
“This is not a return to the old OPEC given a new world with shale and lower demand growth. Sustained higher oil prices ... a deal to cut production by 200,000 to 700,000 barrels a day, from 33.2 million barrels. The breakdown of which countries will ...
Is It Time For Crude Oil Prices To Recover?
Trefis - 9/30/2016 4:23:38 PM
caused by the Organization of Petroleum Exporting Countries’, also known as the OPEC, decision to maintain high production levels to defend their market share against the booming tight oil production in the US. The result was that the world ...
OPEC Deal Could Be Undermined By Increased Shale Production
Mag-Series USA - 9/30/2016 11:51:37 AM
Energy prices had jumped after the nations of OPEC, which collectively produce more than third of the world's oil, agreed to a small cut in production ... "We are confident that OPEC countries will not stick to the agreement", commented Commerzbank ...
OPEC nations reach preliminary accord to curb oil production
perspectivabetica.com - 10/1/2016 4:48:06 AM
The 14-member OPEC produces more than a third of the world's oil. Many were looking for a production cap on Iran to come out ... However, how much each country will produce is to be decided at the next formal OPEC meeting in November, as an invitation ...
How Texas ingenuity turned the tables on OPEC, made the U.S. an energy powerhouse and slashed oil prices
Dallas News - 9/30/2016 5:42:22 PM
Between 2009 and 2015, U.S. oil production grew ... effectively determined world prices for the next four decades. That control ended in October 1973, when the Arab members of the Organization of Petroleum Exporting Countries, along with Egypt and Syria ...
Here is how OPEC’s decision to cut oil production will impact Nigeria
venturesafrica.com - 9/30/2016 2:36:15 PM
On Wednesday, the members of the Organization of Petroleum Exporting Countries (OPEC) struck a deal in principle ... The 14-nation cartel that controls over a third of the world’s oil production, made the decision after a two-year refusal to lower ...
Oil falls on firmer dollar and profit-taking after OPEC rally
Reuters - 9/30/2016 9:57:05 AM
said it would find a way to freeze production if the country reaches an agreement with OPEC members. The United States, a non-OPEC country that is now the world's biggest oil producer, said it had little faith in this week's deal leading to higher prices ...
Russia plays wait and see on oil freeze after OPEC deal
inewstoday.net - 9/30/2016 4:30:47 PM
But analysts say world markets should not expect triple-digit crude prices any time soon. Cairo - Russia announced on Thursday that it is aiming to keep its oil production at near ... of Petroleum Exporting Countries announced on September 28 to cut ...
Oil price and stock markets rise as Opec cuts crude output
hitc.com - 9/30/2016 1:24:41 PM
The group of leading oil-producing countries agreed to limit production to between 32.5m and 33m barrels ... several failed attempts is a reversal of policy for Saudi Arabia, the world’s biggest oil producer, which had sworn to maintain output in the ...
Oil majors’ selloff worries Norway’s biggest opposition party
worldoil.com - 9/30/2016 1:10:22 PM
the country’s biggest opposition group, is worried about oil majors, such as Exxon Mobil and Total, selling off assets in the North Sea, potentially reducing competition. Norway, which has seen crude production drop by half since 2000 and has been ...