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
OPEC Reaches Deal to Limit Production, Sending Prices Soaring
New York Times - 12/1/2016 4:36:00 PM
Nigeria has pledged to increase oil production to 2.2 million barrels a day ... deal with Iran negotiated by the Obama administration and other world powers. And even if other countries do not follow Mr. Trump’s lead, persistently low oil prices could ...
OPEC's power slips amid a spurt in U.S. oil production
USA Today - 12/4/2016 7:28:25 AM
offered a reminder the other day that the resurgence in U.S. oil and natural gas production in recent years has given Washington more discretion in dealing with Saudi Arabia and other members of OPEC, not to mention Russia and other countries. When it ...
OPEC reaches a deal to cut production
The Economist online - 12/1/2016 1:51:22 PM
On November 30th it led members of the oil producers’ cartel in a pledge to remove 1.2m barrels a day (b/d) from global oil production, if non-OPEC countries such as Russia ... the end of a two-year glut in the world’s oil markets, during which prices ...
OPEC Agrees To First Cut In Oil Production Since 2008
Florida's Wuft-FM - 11/30/2016 5:05:49 PM
“The agreement is contingent on key non-OPEC countries agreeing to also cut oil production by 600,000 ... of responsibility” for all oil-producing nations, he said, as well as the “well-being and health” of the world economy. He also said that ...
OPEC Announces Production Cuts, but 3 Big Questions Remain
Fox Business - 12/3/2016 6:35:19 PM
Russia, which is currently the world's top oil producer ... However, each country has a significant incentive to cheat and pocket a few extra dollars by producing beyond the official quota. In the past, OPEC has suffered significant compliance problems ...
Oil prices keep surging after OPEC hashes out a deal to cut production
Vox - 12/1/2016 4:18:42 AM
Two years ago, global oil prices crashed after the world started pumping out far more ... On Wednesday in Vienna, the Organization of the Petroleum Exporting Countries reached a deal to cut their oil production by 1.2 million barrels per day in order ...
'Unfortunately, We Tend To Cheat,' Ex-Saudi Oil Chief Says Of OPEC
Forbes - 12/4/2016 12:14:45 PM
Record high production from OPEC, and the world’s top two oil producers ... Ali Al-Naimi, now 81-years old, served as the country’s oil minister for 21 years until his forced retirement in May. In his memoir he advocated letting the market sort ...
OPEC announces deal to cut oil production
World Socialist Web Site - 12/1/2016 9:55:08 AM
Under the agreement, OPEC, which supplies about one-third of the world’s oil, will cut production by ... At this point, it is not clear from which oil-producing countries outside OPEC—including Azerbaijan, Mexico, Oman and Brazil—cuts will come.
Oil Prices Surge as OPEC Agrees to Cut Production
US News and World Report - 12/1/2016 10:16:37 AM
For the past two years, world markets have ... while bringing its domestic production back online with higher prices. China has heavily relied on Saudi Arabia and Angola for its oil, but the share of imports from those countries has been falling, bumped ...
Oil jumps over 10 percent as OPEC finalizes output cut deal
Reuters - 11/30/2016 3:15:28 AM
NEW YORK Oil soared more than 10 percent on Wednesday to over $50 a barrel and its highest in a month as some of the world's largest ... Petroleum Exporting Countries, which accounts for a third of global oil supply, agreed to cut production from January ...
Oil prices skyrocket as OPEC confirms deal to cut production
KESQ-TV.com - 12/1/2016 9:40:49 AM
The oil cartel finalized an agreement on Wednesday to cut its overall production by 1.2 million ... for non-OPEC countries, for the general well-being and the health of the world economy." Indonesia had decided to suspend its membership of OPEC because ...
U.S. Consumers Should Feel Muted Impact from Rising Oil Price
The Celebrity Truth - 12/4/2016 2:52:14 PM
The Iranian minister of Petroleum, Bijan Zangeneh, explained the decision of implementing the agreement reached on September 28 in Algeria by the states responsible for one third of world oil production ... 600,000bpd from non-OPEC countries could ...
Maduro celebrates landmark OPEC agreement to cut oil production
Jamaica Observer - 12/4/2016 5:48:12 AM
CARACAS, Venezuela (Xinhua) — Venezuela’s President Nicolas Maduro hailed yesterday an agreement by the Organization of Petroleum Exporting Countries (OPEC) to reduce oil production for the first time in eight years. Maduro’s reaction came after the ...
OPEC Reduces Oil Stockpile To Drive Prices Up
100pour100-velo.com - 12/4/2016 2:52:14 PM
Opec controls about one-third of the world's oil supply, and a number of energy analysts ... Libya and Nigeria are exempted from the deal following the disruption of the countries oil production facilities, while Indonesia's membership was suspended ...
OPEC has finally agreed to a production cut — and oil is up almost 9%
The Business Insider - 11/30/2016 1:16:45 PM
Additionally, Russia, which is not a member of OPEC but is one of the ... its production levels by 200,000 barrels. Indonesia has been suspended from the group, and OPEC has agreed to distribute Indonesia's oil output share among certain countries ...