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
Russia, Venezuela Oil Firms Reach $14B Oil, Gas Production Deal
HNGN - 5/28/2015 2:31:35 PM
The state-owned oil companies of Russia and Venezuela have ... Confirming the deal, PDVSA said on Twitter that the two countries will create a company to boost crude production and expand crude extraction in the Orinoco Belt, where Rosneft already has ...
Croatia's plans to allow oil digging in Adriatic Sea splits the newest EU-member nation
FOX News - 5/28/2015 6:46:18 AM
The stunning medieval walled town of Dubrovnik was severely damaged by shelling, and broadcasts of warfare beamed around the world ... country's prime minister. The initial exploration, which will determine the quantities and profitability of oil ...
US oil production at 43-year high as OPEC prepares to meet
CNBC - 5/28/2015 6:20:39 PM
U.S. oil production ... Petroleum Exporting Countries has adopted a market-based pricing strategy that it hoped would shake out high cost producers. One such high cost producer is the U.S. shale industry, which dramatically boosted world production in ...
Iran to pump 170,000 bpd crude oil to boost production
customstoday.com.pk - 5/28/2015 6:17:40 AM
In April, Iranian Oil Minister Bijan Namdar Zanganeh said it will take just a few months for the country to increase its oil production to pre-sanction ... Iran possesses the world’s fourth largest crude oil reserves.
End of Oil Glut Seen Nigh as World's Use Set to Top Production
Rigzone - 5/28/2015 2:31:35 PM
(Bloomberg) -- Make the most of abundant oil because by the end of the year the world may be consuming more than it pumps ... “Once we see U.S. production growth come to an end, with demand growth running at about 1.5 million barrels a day, we’ll ...
Study shows Oklahoma ranks high in natural gas production
PennEnergy - 5/28/2015 3:28:51 PM
A new study by the American Petroleum Institute shows Oklahoma would rank among the world's top natural gas producing countries, even surpassing eight of the 12 OPEC countries in total natural gas production. The study released Thursday uses oil and ...
Ghosts of problems past and present loom over Nigerian palm oil plans
Mongabay - 5/28/2015 10:28:12 AM
This is where Wilmar, one of the world's largest palm oil producers ... it says is principally targeted at the domestic market – will help revive the country's palm oil production capacity. Although still Africa's largest producer by volume, Nigeria ...
OPEC Sees Rivals Boosting Oil Output Despite Weak Prices
NDTV - 5/28/2015 10:56:50 AM
and oil sands would guarantee aggregate growth at 6 percent per year and contribute 45 percent of the growth in energy production to 2035. "Improved technology, successful exploration and enhanced recovery from existing fields have enabled the world to ...
How a Geneva-based commodity trader became the largest exporter of Russian oil
Times Union - 5/28/2015 12:22:44 PM
Given that Russia is currently the world's largest oil producer, and production is largely controlled by a number ... threatening deeper economic damage to oil exporting countries and increasing the likelihood of oil company defaults.
Russia's Rosneft and Venezuela Agree $14 Billion in Oil and Gas Deals
The Moscow Times - 5/28/2015 5:59:10 PM
Russia's top oil firm Rosneft and Venezuela have agreed on $14 billion investments in the ... contains one of the world's largest oil deposits. Rosneft said in a statement Thursday that it plans to increase its own crude oil production in Venezuela from ...
Vienna Opec seen backing Saudi plan to keep oil supplies elevated
MENAFN - 5/28/2015 10:06:44 AM
With oil companies around the world cutting investment ... US drillers have idled more than half of the country's oil rigs since October, according to data from Baker Hughes Inc Global investment in oil production might fall by 100bn this year, according ...
Sour is the new sweet: OPEC’s view of oil quality dilemma
eaglefordtexas.com - 5/28/2015 7:25:04 PM
LONDON – The U.S. shale oil boom is turning global crude pricing on its ... It said turbulence in Iraqi production and exports from the country’s north also contributed to the tightness in sour grades, as did Russia’s decision to divert some of ...
Soiled by Oil Scandal, Brazil Economic Model Primed for Makeover
Bloomberg - 5/28/2015 9:30:56 AM
In September 2010, at the height of the pre-salt discovery frenzy, Petrobras raised $70 billion in cash and assets in the world’s largest share sale ... invest $224 billion over five years to double oil production to 5.38 million barrels a day and ...
Norway’s Oil Fund to Exit Coal–Energy Journal
The Wall Street Journal - 5/28/2015 9:52:25 AM
Norway’s sovereign-wealth fund, the world ... Countries. OPEC is meeting at its Vienna headquarters on June 5 and is widely expected to maintain its production target as it did at its last meeting in November despite falling prices and the global glut of ...
Will The World's New Swing Oil Producer Stand Up?
Forbes - 5/15/2015 12:02:22 PM
In three weeks, the Organization of Petroleum Exporting Countries will meet in Vienna for the first time since November, when OPEC decided not to cut production, sending the price of crude oil plummeting. With Brent crude oil having rebounded in recent ...