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, 2012See also: Oil - production map
Why are oil prices sinking?
CBS News - 10/23/2014 5:08:43 PM
The drop has been so steep that the Organization of the Petroleum Exporting Countries -- which controls about 40 percent of the world's oil supply and nearly two-thirds of all petroleum traded internationally -- may consider a cut in production to winnow ...
Are Declining Oil Prices Increasing the Risks to OPEC, U.S. Energy Security or Clean Fuels Supplies?
The Energy Collective - 10/23/2014 5:37:21 PM
Due to a combination of major Countries’ economies slowing again, stagnating World crude oil demand, increased U.S. domestic crude oil production, and OPEC’s decision to maintain current export levels, excess available World oil supply has led to the ...
Saudi Arabia Cut Oil Production in September Says Source
marketpulse.com - 10/23/2014 1:05:20 PM
according to a person familiar with the country’s oil policy. Prices rose after the report. The largest producer in the Organization of Petroleum Exporting Countries cut September supply by 328,000 barrels a day, to 9.36 million barrels daily ...
With oil prices slumping, Venezuelans brace for the worst
Washington Post - 10/24/2014 4:24:35 PM
from social programs to billions in subsidized oil for allies in the Caribbean and Central America. The government has called for an emergency summit of the Organization of Petroleum Exporting Countries to discuss cutting production to raise prices — a ...
Venezuelans brace for slump in oil prices
Times Bulletin - 10/25/2014 3:15:59 AM
CARACAS, Venezuela (AP) — The falling oil prices that are providing relief to drivers ... an emergency summit of the Organization of Petroleum Exporting Countries to discuss cutting production to raise prices — a position that could face opposition ...
Oil: Blind-sided by technology
Pique News Magazine - 10/23/2014 8:36:19 PM
The only major oil exporters that are not in deep trouble are the Arab countries, whose governments have some room for manoeuvre because of low production costs, relatively small populations, and big foreign currency reserves. Since June the cost of a ...
Joe Nocera: A world without OPEC?
TwinCities Pioneer Press - 10/22/2014 11:57:56 PM
The countries that were part of it belonged ... to wrest control over global oil production and pricing from the giant international oil companies -- ushering in an era of significantly higher oil prices," as Amy Myers Jaffe and Ed Morse noted in an ...
Will oil prices continue to decrease?
Rediff India Abroad - 10/23/2014 12:00:55 PM
Among the winners come the economies of countries completely dependent on oil imports ... Riyadh has so far refused to reduce its production to contain the decrease of oil prices. The key strategic objective for the Saudis is to preserve their role ...
8 Reasons For Our Oil Price Predicament
Oil Price - 10/23/2014 11:20:57 PM
For example, Carbon Tracker estimates that most new oil sands projects require a price of $95 barrel to be sanctioned. Iraq needs to build out its infrastructure and secure peace in its country to greatly ramp up production. These indirect costs lead to a ...
Pakistan to begin local production of Rice Bran Oil in December
Business Recorder - 10/22/2014 10:53:30 PM
The raw material used in the production of RBO is the Rice Bran ... however is not producing bran oil like other countries. Presently, India is the largest producer of rice brain oil and annually some 3-4 million tons are being produced across the world ...
Brent oil ends week flat, pausing rout, as U.S. contango looms
Reuters - 10/25/2014 3:44:37 AM
despite instability in both countries. Oil traders said prices were reversing excessive gains made on Thursday, when the market spiked on news that Saudi Arabia had boosted production but cut supplies to the market in September, instead pumping barrels ...
Oil and Terror: ISIS and Middle East Economies
Investopedia - 10/22/2014 4:19:48 PM
(For more, see: Countries Sanctioned By The U.S. - And Why ... in the black market. By some estimates, oil production under ISIS controlled territory is around 80,000 barrels per day, which nets them a revenue of at least USD $1 million and possibly ...
Saudi Arabia’s Crude Oil Supply Said to Fall in September
Bloomberg - 10/23/2014 1:12:30 PM
according to a person familiar with the country’s oil policy. Its production climbed. The world’s biggest crude exporter supplied 9.36 million barrels a day last month, a reduction of 328,000 barrels daily from August, according to the person ...
Is the U.S. holding too much oil in reserve?
Krdo Breaking News - 10/24/2014 5:57:39 PM
The U.S. has the largest emergency stockpile of oil in the world. And now that the country's oil production is booming, there's questions if America needs to hold so much crude in reserve. The Department of Energy didn't respond to a request for comment.
SPOTLIGHT: US inches toward oil independence
Daily News Journal - 10/24/2014 8:20:48 PM
Meanwhile, exports, mostly of refined gasoline and diesel, rose about 11 percent, narrowing the country's petroleum ... it from wild price swings because oil prices are set by global markets. But growing U.S. production has added to the world's supply ...