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
Saudi Arabia switches OPEC tack with eye on world’s top IPO, but it’s still far from ‘break even’
Financial Post - 12/6/2016 11:36:35 AM
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 ...
OPEC, U.S. begin 'cat and mouse' oil game as producers pounce on hedges
Reuters - 12/7/2016 8:57:55 AM
LONDON/NEW YORK As far as one of the world’s biggest commodities ... and allow the higher oil price to be sustained," he said. The Organization of the Petroleum Exporting Countries agreed on Nov. 30 to its first production cut since 2008, whereby it ...
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 ...
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.”
OPEC announces deal to cut oil production
World Socialist Web Site - 12/1/2016 9:55:08 AM
Under the agreement, OPEC, which supplies about one-third of the world’s oil, will cut production by ... At this point, it is not clear from which oil-producing countries outside OPEC—including Azerbaijan, Mexico, Oman and Brazil—cuts will come.
WORLD ECONOMIES IN TROUBLE: Middle East Oil Exports Lower Than 40 Years Ago
srsroccoreport.com - 12/7/2016 12:08:12 AM
Here is a breakdown of the some of the Middle Eastern countries oil consumption ... because when the rate of global petroleum production peaks and begins to decline, the petroleum available on the world market will decline much more steeply than the ...
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 ...
OPEC Seeks Cuts From Nations Pumping a Fifth of Oil
bloomberg.com - 12/5/2016 8:17:20 AM
OPEC has invited 14 other crude producers, who together pump about a fifth of the world’s oil, to talks this week in ... the Organization of Petroleum Exporting Countries’ agreement last week to a production cut of 1.2 million, Secretary-General ...
BP Is Most-Exposed Among Oil Majors to OPEC-Russia Cuts
Bloomberg - 12/7/2016 8:50:45 AM
The Organization of Petroleum Exporting Countries, which controls about 40 percent of the world’s oil, took it on itself to boost prices and revive the industry with the first production cuts in eight years. Oil companies, which have seen profits smashed ...
Oil Steadies on OPEC Output Cut Doubts
worldenergynews.com - 12/7/2016 2:05:43 PM
Oil prices surged almost 20 percent after the Organization of the Petroleum Exporting Countries and Russia announced last week that they would cut production next year in an effort to prop up markets. But doubts have emerged over whether the planned cuts ...
Palm oil boom: companies must clean up their act in Africa
The Guardian - 12/7/2016 8:14:58 AM
Photograph: Sia Kambou/AFP/Getty Images The palm oil industry is one of the world’s biggest ... ministers from seven African countries pledged to implement sustainable palm oil production, saying that while Africa was open for business, palm oil ...
OPEC production cut to spare Iraqi budget US$14 bn: PM adviser
iraqinews.com - 12/7/2016 7:46:20 AM
The decision by the Organization of the Petroleum Exporting Countries to cut production from January ... deal on production cut. World petroleum rates had fallen down by more than 60 percent since 2014, to the dismay of oil-reliant economies, including ...
Museveni says he’s “not excited” about Uganda’s oil. Is anyone anymore?
africanarguments.org - 12/7/2016 11:13:55 AM
Although production has not yet started, political leaders in Kampala have typically touted oil as a panacea to problems faced by one of the poorest countries in the world. This August when production licence agreements were signed, for example ...
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 ...