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
4 reasons OPEC will struggle to boost oil prices
CNN Money - 9/26/2016 10:37:37 AM
The country has stated clearly that it wants to reclaim its place as one of the world's top oil exporters. But Saudi Arabia won't want Iran to increase production while it is cutting back. That would mean ceding market share to its main regional rival.
Iran Plays Down Prospects of OPEC Production Deal
The Wall Street Journal - 9/26/2016 2:12:22 PM
Iran Oil Minister Bijan Zanganeh’s comments to Iranian state media came as energy ministers from across the world arrived ... the Petroleum Exporting Countries. The 14-nation cartel is considering output limits, known as a production freeze, that some ...
A Freeze Won’t Do – OPEC Needs To Cut Production
naija247news.com - 9/26/2016 4:21:13 PM
Russian President Vladimir Putin —who heads the country that produced 12.4 percent of the world’s oil output last year – vocalized his support for an output halt in an interview with Bloomberg earlier this month. “We believe that [a production ...
Oil ends up 3 percentt as OPEC meets; volatility hits post-Doha high
Reuters - 9/26/2016 4:32:33 AM
The Organization of the Petroleum Exporting Countries and ... there's an impressive production cut by OPEC on top of a freeze, I think we'll give back everything we've gained by the end of this week," said Tariq Zahir, an oil bear at Tyche Capital Advisors ...
Chinese national oil companies: giants built on shaky foundations
energypost.eu - 9/26/2016 9:36:11 PM
The growth in their overseas oil production has been phenomenal ... higher than for any other country in the world. There are a number of questions that I want to address in this paper. Where did the Chinese NOCs invest? Did they overpay?
Russia receives no proposals from OPEC to reduce oil production – Minister
www.today.ng - 9/26/2016 7:27:20 PM
Russian Energy Minister, Alexander Novak, said his department has not received any proposals to reduce oil production from the Organisation of Petroleum Exporting Countries. “Nobody offered us such proposals,” Novak was quoted as telling newsmen in ...
India’s Growth Spurs Oil Demand
notalotofpeopleknowthat.wordpress.com - 9/26/2016 8:31:45 PM
The world’s second-largest country by population after China will see its economy ... fuelled by India and China. Oil production last year amounted to 91 million barrels a day, so, according to the IEA figures, we are looking at something like a 15% ...
No signal of oil freeze at house as Russia meets OPEC
worldwide-finance.net - 9/26/2016 7:13:01 PM
Five leading Russian oil companies, responsible for three quarters of output in the world ... the country’s ministries agreeing to work together to help stabilize oil markets. Days after the pact was signed Russia reported a new post-Soviet production ...
Oil prices remain steady ahead of OPEC meet to discuss curbing oversupply
Mag-Series USA - 9/26/2016 6:58:42 PM
"It's well known Opec members are facing huge revenue shortfalls and they need to agree a co-ordinated cut in production". Algeria on Sunday expressed optimism that an agreement could be reached by major oil producing countries to stabilize the world oil ...
No OPEC Oil Freeze Likely, MLP Investor Says
Barron's - 9/26/2016 4:21:13 PM
As the world’s largest oil producers meet in Algeria ... We continue to believe a production freeze or reduction is unlikely as OPEC countries and Russia need to not only reach a compromise with each other, but also sell any deal to their constituents ...
Iran downplays chances of production freeze at OPEC meeting
Market Watch - 9/26/2016 4:46:52 AM
Iran is still trying to reach output of 4 million barrels a day, its production before ... to pump output higher. Iran Oil Minister Bijan Zanganeh’s comments to Iranian state media came as energy ministers from across the world arrived in Algiers for ...
Oil Falls on Weak Demand Growth
thelakeandeswave.com - 9/14/2016 12:21:55 AM
This was compounded by increased production, as OPEC and non-OPEC countries pumped more oil. In 2017, world oil demand will grow a further 1.15 million b/d to hit a new record of 95.42 million b/d, OPEC said in its report. That followed similar sentiment ...
Oil climbs over 4% as Opec producers gather
Gulf News - 9/26/2016 6:15:45 PM
New York: Oil jumped nearly 4 per cent on Monday as the world's largest producers gathered in Algeria ... The Organisation of the Petroleum Exporting Countries and other exporters led by No 1 producer Russia are meeting informally on the sidelines of ...
Russia oil majors raise output of hard-to-recover reserves
Gulf Times - 9/26/2016 11:16:24 PM
But they are dwindling and production in the region is declining at 1.5 to 2% a year. Russia’s oilfield licences regulator Rosnedra puts the country’s ... two-thirds of total oil reserves, and enough to cover 20 years of the world’s total oil needs.
Oil ends up 3pc as OPEC meets; volatility hits post-Doha high
Business Recorder - 9/27/2016 1:18:05 AM
NEW YORK/LONDON: Oil settled up 3 percent on Monday as the world's largest producers gathered in Algeria ... The Organization of the Petroleum Exporting Countries and other oil producers led by Russia are meeting informally on the sidelines of the ...