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
Iran Races to Clinch Oil Deals Before Donald Trump Takes Office
New York Times - 12/9/2016 1:20:24 PM
Just as important, though, the agreements could provide a lifeline to the rest of the world, experts say, cementing relations with a number of European and Asian countries ... a struggle to rebuild its oil exports. Growing production has allowed Iran ...
OPEC Agrees To First Cut In Oil Production Since 2008
NPR News - 11/30/2016 1:20:56 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 ...
Non-OPEC producers might not be scared enough to cut oil output
CNBC - 12/8/2016 3:51:55 PM
The Organization of the Petroleum Exporting Countries played hardball with ... annual average price); World Bank World Development Indicators (GDP in current US dollars); value of oil production calculated as annual oil production times average oil price ...
Oil prices keep surging after OPEC hashes out a deal to cut production
Vox - 12/1/2016 4:18:42 AM
Two years ago, global oil prices crashed after the world started pumping out far more ... On Wednesday in Vienna, the Organization of the Petroleum Exporting Countries reached a deal to cut their oil production by 1.2 million barrels per day in order ...
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 ...
The World's Top Oil Market Is Starting to Lose Its Sheen
bloomberg.com - 12/8/2016 3:59:04 PM
Asia’s biggest buyer also seen reining in private refiners One of the biggest engines soaking up the world’s oil is starting to sputter ... from the combined total of net imports and domestic production on a monthly basis to arrive at a surplus ...
OPEC agrees to cut production, oil rises 8 percent
worldbulletin.net - 12/7/2016 9:58:10 PM
This is the first production cut by the organization in eight ... The deal also includes non-OPEC countries, like the world's biggest crude oil producer Russia. Non-OPEC countries will also cut their oil output by an additional 600,000 bpd, while 300,000 ...
Oil up about 1 percent on optimism over non-OPEC output cuts
Reuters - 12/9/2016 11:04:24 AM
and both crude benchmarks remained nearly 2 percent below the highs reached after the Organization of the Petroleum Exporting Countries (OPEC) announced plans to cut production late last month. [USD/] On Saturday, oil ministers from OPEC countries will ...
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.
OPEC hopes to include Russia in its pact to cut oil production
Market Place - 12/9/2016 2:43:19 AM
and various members of the Organization of Petroleum Exporting Countries (OPEC) attend a press conference during the 23rd World Energy Congress on October 12, 2016 in Istanbul. - OZAN KOSE/AFP/Getty Images Saturday the world’s oil market will focus on ...
Oil futures gain as oil producers aim to shore up output pact
Market Watch - 12/9/2016 1:31:44 AM
Oil futures headed higher Friday for a second consecutive session with some of the world’s biggest crude producers ... outside the cartel won’t commit to limiting production. Only five of 14 non-OPEC countries have so far agreed to show up for the ...
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 Agrees to Decrease Oil Production to 600000 Barrels Per Day
myhealthbowl.com - 12/9/2016 10:42:55 AM
With non-OPEC countries also agreeing to a production cut of 0.6 million barrels per day, oil prices have regained the psychological ... for market share is not over - especially in Asia, the world's biggest consumer region - Saudi Aramco cut the January ...
Oil Market Stabilised By Output Cut Vital For India: OPEC
Canal CNC Arauca - 12/9/2016 10:35:46 AM
Despite OPEC's cheating "history" Barkindo defended "today's complex energy markets require open communication and collaboration in order to ensure that the ... production from within its member countries and Russian Federation. Venezuelan Oil Minister ...