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
Russia says OPEC, non-OPEC countries to discuss oil cuts
The Hindu Business Line - 12/6/2016 5:34:30 PM
“As reality bites in a world awash with oil, producing countries will have to show some meaningful backbone on compliance, for probably the first time ever, to achieve the meaningful rally in oil prices that they so desire.”
Aramco IPO may have factored in Saudi Arabia’s push to cut OPEC production
Fuel Fix - 12/6/2016 2:49:51 PM
By promising to cut production by just 4.7 percent, the country gained an 18 percent jump in oil prices. The pain of prices below $50 had become too much for the Arab world’s largest economy. Saddled with budget deficits, the country cut spending and ...
Oil Prices Slip After Rallying to One-Year High
The Wall Street Journal - 12/6/2016 10:46:29 AM
Oil prices slipped off one-year ... prices because of cutbacks promised by the world’s oil exporters. Many traders and analysts have become more confident the Organization of the Petroleum Exporting Countries is likely to follow through on production ...
Will OPEC Production Cuts Boost Kern County's Oil Economy?
Valley Public Radio - 12/6/2016 10:39:19 AM
Last week, the 13-country oil cartel known as the Organization of Petroleum Exporting Counties, or OPEC, announced that it would massively scale back its oil production. OPEC is responsible for producing about one-third of the world’s oil. The move is an ...
Oil Falls From 16-Month High as OPEC Production Keeps on Rising
bloomberg.com - 12/6/2016 6:53:14 PM
OPEC boosted production to 34.16 million barrels a ... barrels a day beyond the 300,000 already promised by Russia. Oil topped $50 a barrel after the Organization of Petroleum Exporting Countries agreed Wednesday to trim the group’s output by 1.2 million ...
OPEC Agrees To First Cut In Oil Production Since 2008
WVTF Public Radio - 11/30/2016 11:15:04 AM
"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 the Russian ...
Oil dips as OPEC, Russian output rises ahead of production cut
Reuters - 12/6/2016 3:22:40 AM
As part of the deal, OPEC said major oil producers not part of the group had agreed to cut a further 600,000 bpd of production. These countries and OPEC are due ... is not over - especially in Asia, the world's biggest consumer region - Saudi Aramco ...
OPEC cut pushes oil prices up to 16-month high
The Christian Science Monitor - 12/4/2016 11:56:15 PM
OPEC, founded in Baghdad in 1960, was originally made up of the world’s five largest oil producing countries: Iraq, Iran, Kuwait, Saudi Arabia, and Venezuela. Now headquartered in Vienna, the massive cartel is comprised of 14 countries, and accounts ...
Mexico Oil Auction Succeeds in Drawing World's Biggest Drillers
Rigzone - 12/6/2016 4:44:23 PM
Mexico's first competitive deepwater oil auction ... 12 years of oil production declines. The government had modest expectations for the sale, with Energy Minister Pedro Joaquin Coldwell saying in a radio interview last week that the country would be ...
Oil falls on production cut skepticism, OPEC and Russia output rise
Reuters - 12/6/2016 10:46:29 AM
Those countries and OPEC meet this weekend to finalize the terms. Russia reported average oil production in November of 11.21 million ... Thomson Reuters is the world's largest international multimedia news agency, providing investing news, world news ...
OPEC sees robust oil demand growth even if prices rise
Reuters - 12/5/2016 9:00:17 AM
Indian Oil Minister Dharmendra Pradhan told the conference oil producing countries "must match security of supply ... Overall, OPEC estimates that world oil demand will rise by 17 million bpd to around 110 million bpd by 2040.
OPEC to reduce production by 1.2 million barrels per day
24indianews.com - 12/6/2016 8:37:38 AM
Part of the process is also privatisation to a limited extent of Aramco, the world’s biggest oil company that ... interesting to see how the countries (especially producers) outside the OPEC respond to this curb on production levels.
Oil & Gas Stocks Soar On OPEC Deal – Can The Rally Continue?
Yahoo Finance - 12/7/2016 12:29:41 AM
The markets are reacting to the Organization of Petroleum Exporting Countries’ (OPEC) planned production reduction not just in ... The good news comes just as data from Bloomberg’s World Oil and Gas Index confirms that a group 58 prominent oil and ...
OPEC, non-OPEC countries to discuss oil cuts – Russia
Punch - 12/6/2016 1:52:35 PM
“As reality bites in a world awash with oil, producing countries will have to show some meaningful backbone on compliance, for probably the first time ever, to achieve the meaningful rally in oil prices that they so desire.” Some analysts say that last ...