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
Oil falls 1 percent on weak China outlook, higher Libya production
Reuters - 3/2/2015 1:05:40 AM
The bank expects Beijing to lower the country's growth target ... following a recovery in Libya's oil production to more than 400,000 barrels per day (bpd). Iraq's Oil Minister Adel Abdel Mehdi said on Sunday world oil prices were gradually rebounding ...
US Will Never Gain Oil Market Crown Says IEA Head
Oil Price - 3/2/2015 1:19:59 AM
... diversify the market but it will not solve the world’s oil problems.” Related: OPEC’s Strategy Is Working Claims Saudi Oil Minister Certainly, Birol acknowledged, 2014 crude production by countries that are not among OPEC’s 12 members was ...
Shale Gas and Tight Oil Are Commercially Produced in Just Four Countries
Al-Jazeerah - 2/21/2015 3:39:30 AM
Republished to clarify China and Argentina's production of shale gas and tight oil, respectively. The United States, Canada, China, and Argentina are currently the only four countries in the world that are producing commercial volumes of either natural gas ...
Call to stockpile oil for insurance
7 News Yahoo - 3/1/2015 11:03:58 PM
Amid growing fears terrorist activity led by Islamic State could threaten world oil production, the International Energy ... are a requirement of IEA member countries that are net oil importers such as Australia. However, the Federal Government has baulked ...
'Happy Naimi': Calm Saudi Arabia signals $60 oil price for the long-haul
Al Bawaba - 3/1/2015 7:40:33 AM
Saudi Arabia, the Organization of the Petroleum Exporting Countries’ leading producer, is also one of the cheapest oil producers in the world, with production costs of just a few dollars per barrel. Modern techniques of extracting oil from hard rock ...
OPEC’s Strategy Is Working, Claims Saudi Oil Minister
Time - 2/27/2015 7:53:04 PM
Saudi minister had pushed through a plan to maintain oil production ... companies in the world, reports that the number of oil rigs operating in the United Stated declined by fully 35 percent since as recently as Dec. 5, leaving the country with the ...
Crude Oil: Abundance wins over depletion theory
Commodity Online - 2/26/2015 10:50:13 AM
With U.S. shale oil production soaring from 600,000 barrels ... Current estimates have over 80 percent of the world's proven oil reserves located in OPEC member countries, with Middle Eastern reserves comprising 65 percent of the OPEC total.
Venezuela: A Closer Look at the Oil Economy of Venezuela
Live Trading News - 2/28/2015 11:40:57 PM
Venezuela was the world’s 9th largest exporter and ... As a result, much of Venezuela’s oil production must go to specialized domestic and international refineries. The country’s most prolific production area is the Maracaibo basin, which contains ...
Counter OPEC’s power by boosting American crude oil exports
Thomaston Times - 3/1/2015 12:12:34 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 ...
Slumping Oil Price and the Political Consequences
Kurdish Globe - 3/1/2015 4:37:25 PM
World economic slowdown in general , Chinas ... do not help ease the tension. The oil export countries consequently didn?t come to an agreement to reduce the oil production; all these pressed oil prices further down. Technology of shale oil production ...
GUEST APPEARANCE: Political economy of oil — a brief sketch
Finger Lakes Times - 3/1/2015 1:59:56 PM
This decline is the confluence of multiple factors, both political and economic, and its many implications affect countries ... of oil, domestic U.S. production has not led to energy independence since its consumption level as the world’s largest ...
Riding oil's unpredictable roller-coaster
Great West Newspapers - 2/28/2015 5:54:22 AM
Now, of course, oil consumption has increased in other countries over the last 10 years ... time that this fact represented a major change in world oil patterns, and nations would need to balance production very carefully, or they ran the real risk ...
FACTBOX-Oil production cost estimates by country
Reuters - 7/28/2009 5:19:37 AM
July 28 (Reuters) - The cost of pumping ... other individual countries, obtained from traders and industry analysts. It also gives the International Energy Agency's more general assessment of costs for the oil-producing regions of the world.
Algeria: Kenya Turns to Algeria for Oil and Gas Expertise
AllAfrica - 2/28/2015 6:11:40 PM
At the conference which was attended by global players in oil and gas, two things emerged from listening to examples from around the world. For a country ... overseeing the entire production chain to ensure the country is not cheated out of the value ...
Oil-rich Libya, torn by conflict, may be going broke
Washington Post - 2/19/2015 1:40:11 AM
The country’s economic lifeblood, oil accounts for almost 100 percent ... below forecasts from the World Bank and IMF. “We’ve revised down expectations on Libya production,” he said, “simply because things are not holding together, for lack ...