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
Who Benefits The Most From Lower Oil Prices?
Seeking Alpha - 1/26/2015 2:01:29 AM
Countries benefiting the most will be those with little or no oil production of their own and relatively high ... The best way to help the world's poor people may be to drill for oil in North Dakota and drive down the world oil price.
10 Key Points about U.S. and World Oil Supply
Falls Church News-Press - 1/26/2015 2:25:57 PM
Outside North America, world oil production is flat. The world’s largest oil producer ... Higher oil prices started cutting demand for oil in OECD countries back in 2005-07; more cutbacks appear likely (except in the U.S., in the short term, where ...
Oil and dollar: Why Obama's love for Taj lost out to Saudi King's death
Firstpost - 1/26/2015 10:15:24 AM
the country which was by then home to the largest oil reserves in the world. Ian Carson and V.V. Vaitheeswaran point this out in their 2007 book, Zoom—The Global Race to Fuel the Car of the Future. Car production had come to a standstill in the United ...
The Most Important Thing To Understand About The Coming Oil Production
investing.com - 1/26/2015 5:29:05 AM
Why is this important? For one very simple reason. Without growth in production from these two countries, world oil production (crude oil plus lease condensate which is the definition of oil) from the first quarter of 2005 through the third quarter of 2014 ...
Author Middelkoop: Oil Price Decline Represents US 'Economic Warfare'
News Max - 1/26/2015 7:16:27 AM
The plunge of oil prices to 5 ½-year lows stems partly ... IEA [International Energy Agency] — they claim that total world demand will be around 92 million barrels per day and total world production will be a share of 93 million barrels per day.
For Saudis, Falling Demand for Oil Is the Biggest Concern
Businessweek - 1/26/2015 12:31:25 PM
The world’s largest exporter has chosen not to cut production, counting instead on lower prices ... West Texas Intermediate slipped 67 cents to $44.92. Cheaper oil might also lead countries to back off from pledges to cut carbon emissions as they lose ...
East Africa: Weak Global Economy Dampens EAC Oil Hopes
AllAfrica - 1/26/2015 11:41:18 AM
The World Bank says in its 2015 global economic prospect report that several low-income countries, including those in East ... especially coffee and tea but that could change if oil production starts in Uganda and Kenya as well as gas in Tanzania.
Oil prices turn positive as OPEC Secretary-General calls bottom to market
Economic Times - 1/26/2015 5:10:35 PM
Saudi Arabia, the world's top oil exporter, led OPEC in a decision to keep oil production steady at 30 million barrels per day last November. This has fuelled a global supply glut that has more than halved prices since June. LONG POSITIONS CUT Money ...
New King In Saudi Arabia But Same Old Oil Policy
The Motley Fool - 1/26/2015 1:43:00 PM
This article was written by Oilprice.com, the leading provider of energy news in the world. Check out these ... decline since data collection began by oil services firm Baker Hughes, dating back to 1987. Production cuts will eventually follow.
Hedge funds bet oil will fall further
Fuel Fix - 1/26/2015 7:16:27 AM
Saudi Arabia’s King Salman, the new ruler of the world’s biggest oil exporter, said he will maintain the production policy of his predecessor ... members of the Organization of Petroleum Exporting Countries exceeded their 30 million-barrel daily ...
World Week Ahead: Until Fed Adjudicates, It’s ECB Bazooka vs. Greek Rebellion
The Wall Street Journal - 1/26/2015 2:47:25 PM
Syriza wanting to renege on the terms of the country’s EU bailout is seen by many as a threat ... from the disinflationary forces rolling through much of the industrialized world. That’s a legacy of the long-running (if now greatly diminished) mining ...
The countries slammed worst by plunging oil prices
CNBC - 12/6/2014 11:44:31 AM
The drop has taken a multibillion-dollar bite out of the world economies that depend heavily on oil production. It's also created a windfall for countries, companies and consumers that use all that oil. The latest evidence came in Friday's trade data ...
Mass job losses unfold in global oil industry
World Socialist Web Site - 1/26/2015 5:57:43 AM
Baker Hughes and Schlumberger, two of the largest oil service companies in the world, announced this month that they would ... Shale oil has been the first type of production to be hit by the price drop because it is significantly more expensive than ...
Counter OPEC’s power by boosting American crude oil exports
Your Houston News - 1/24/2015 9:23:30 PM
Drivers can mostly thank the highest level of domestic oil production in four decades -- over 9 million ... But Saudi Arabia, Kuwait, and the rest of the Organization of Petroleum Exporting Countries (OPEC) have recently launched a price war to force ...
Oil prices fall on market relief over Saudi policy
Business Recorder - 1/26/2015 12:38:34 PM
Saudi Arabia, the world's top oil exporter, led the 12-member Organization of the Petroleum Exporting Countries (OPEC) last November in a decision to keep oil production steady at 30 million barrels per day. This has added to a global supply glut that has ...