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
Is the oil world big enough for two swing producers?
Washington Post - 9/29/2016 2:44:36 PM
This is what the oil market looks like in 2016: Traders and investors this week had one eye on Algiers, where the Organization of the Petroleum Exporting Countries on Wednesday vowed to cut production ... new circumstances of a world with shale and of ...
Oil Prices Climb After OPEC Deal
The Wall Street Journal - 9/29/2016 3:10:15 AM
The plan doesn’t say how much each individual country will have to cut ... is that pushing up the prices via a production cut among low-cost producers would provide more incentive for oil drillers around the world to open their spigots even wider.
Oil prices rise after OPEC seriously considers cutting back on production
Vox - 9/29/2016 3:24:34 AM
... soaring around the world, as demand rose after the financial crisis but global production was struggling to keep up. Many older oil fields were stagnating. Conflicts in places like Libya and Iraq were restricting supply. Countries had to draw down ...
Shares in oil giants BP and Shell surge on production cut deal
Sky News HD - 9/29/2016 4:24:49 PM
But until now the Organisation of Petroleum Exporting Countries - dominated by Saudi ... In April, Saudi Arabia said it would cut production if Iran did the same. But Iran, readmitted to world oil markets this year after being freed of economic sanctions ...
OPEC agrees modest oil output curbs in first deal since 2008
Reuters - 9/29/2016 11:31:20 AM
However, how much each country will produce is to be decided at the next ... Together, the three largest global producers extract a third of the world's oil. Iran's production has been stagnant at 3.6 million bpd in the past three months, close to pre ...
Is Saudi Arabia serious about bringing back high oil prices?
The Christian Science Monitor - 9/29/2016 9:25:28 PM
In the global tug of war over how to bring world oil markets back into balance ... the kingdom agreed this week to support a deal to cut production. The Organization of the Petroleum Exporting Countries (OPEC) came up with the outlines of an agreement ...
Should Opec’s decision to cut crude oil production worry India?
VC Circle - 9/29/2016 8:32:22 AM
Saudi Arabia, the largest oil producer in the world, will cut production by up to 350,000 bpd. Three countries—Iran, Libya and Nigeria—are however, exempted from these cuts. Iran re-entered the international oil market only earlier this year following ...
OPEC Members Agree to Cut Oil Production by November
Medafrica Times - 9/29/2016 9:18:18 PM
The 14-member OPEC produces more than a third of the world’s oil ... Iran, Libya and Nigeria are all trying to increase production, while countries like Venezuela and Algeria can ill afford to lose oil revenue by reducing output. Saudi Arabia, the ...
The Biggest Winners and Losers From OPEC's Oil Deal
Bloomberg - 9/29/2016 12:07:07 PM
The Organization of Petroleum Exporting Countries' agreement to cut production ends two years of Saudi Arabia's pump-at-will policies, which had sunk oil prices to the joy of drivers in the Western world and the consternation of central bankers seeking to ...
Oil price rally slows on doubts over OPEC output deal
Modern Ghana - 9/29/2016 5:57:53 PM
Following a meeting that included Russia, the Organization of the Petroleum Exporting Countries stunned markets Wednesday by saying it planned to trim total production by some 750,000 barrels per day. This followed talks in Algiers as world oil producers ...
OPEC agrees to cut production by 750000 barrels a day
inewstoday.net - 9/29/2016 4:03:21 PM
OPEC members, whose countries produce 40% of the world's crude oil, had agreed to cut their output ... In a story September 29 about OPEC's deal to curb oil production, The Associated Press misspelled the Algerian energy minister's name.
OPEC nations reach preliminary accord to curb oil production
Los Angeles Times - 9/28/2016 9:19:30 PM
The preliminary deal will limit output from the Organization of the Petroleum Exporting Countries ... the world's biggest oil producer and Iran's rival for power in the Middle East, appeared to be more amenable to some sort of production limit, certainly ...
OPEC agrees surprise deal to curb oil production
Yahoo News - 9/29/2016 11:41:28 PM
but investors doubt the price will rise further without limits on production. OPEC produces more than a third of the world's oil. Over the past couple of years, OPEC countries, led by Saudi Arabia, had been willing to let the oil price drop as a means of ...
5 Energy Mutual Funds to Play OPEC Oil Production Cut
NASDAQ - 9/29/2016 10:55:32 AM
OPEC officials have decided to form a committee to determine how much of production each country would have to cut ... The OPEC-Saudi Arabia Pact OPEC is responsible for over 40% of the world's oil production and has always remained committed toward ...
OPEC agrees to cut production; oil prices surge
KTVZ.com - 9/28/2016 10:31:05 PM
Three countries are exempted from the production cuts: Iran, Nigeria and Libya. Economic sanctions were lifted on Iran earlier this year, and Libya and Nigeria have had some of their oil facilities damaged by terrorist attacks in recent months. Oil prices ...