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
OPEC seeks production cuts from nations pumping a fifth of the world’s oil
Ya Libnan - 12/5/2016 6:54:25 PM
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 ...
OPEC Reaches Deal to Limit Production, Sending Prices Soaring
New York Times - 12/1/2016 4:36:00 PM
Nigeria has pledged to increase oil production to 2.2 million barrels a day ... deal with Iran negotiated by the Obama administration and other world powers. And even if other countries do not follow Mr. Trump’s lead, persistently low oil prices could ...
Why oil prices hit a 16-month high
The Christian Science Monitor - 12/5/2016 6:32:57 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OPEC, founded in Baghdad in 1960, was originally made up of the world’s five largest oil producing countries: Iraq, Iran, Kuwait, Saudi Arabia, and Venezuela.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 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 ...
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 ...
OPEC November Production Hits Record Highs
Yahoo Finance - 12/5/2016 7:58:51 PM
The greatest trick OPEC ever pulled was convincing the world to buy oil even as production kept rising ... due to the impact on their output from conflict, boosted production in November. Among countries with lower output, the biggest drop came from ...
OPEC Is Trying To Get Non-OPEC Nations To Cut Production Now
ETF Daily News - 12/5/2016 10:47:40 AM
Following last week’s landmark production cut deal among its ... wider cooperation to rebalance the oil market and drive up prices. In total, these countries produce about one-fifth of the world’s crude supply. From Bloomberg: Russia already committed ...
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 reaches a deal to cut production
The Economist online - 12/1/2016 1:51:22 PM
On November 30th it led members of the oil producers’ cartel in a pledge to remove 1.2m barrels a day (b/d) from global oil production, if non-OPEC countries such as Russia ... the end of a two-year glut in the world’s oil markets, during which prices ...
Oil sector experiences shock
Ghana Web - 12/5/2016 6:54:25 PM
The decline in crude oil prices on the world market has gravely affected the country’s oil sector, which is likely to adversely affect production from the Tweneboah-Enyerra-Ntomme (TEN) fields and the Sankofa Fields, Seth Terkper, Minister of Finance ...
Oil Prices Surge as OPEC Agrees to Cut Production
US News and World Report - 12/1/2016 10:16:37 AM
For the past two years, world markets have ... while bringing its domestic production back online with higher prices. China has heavily relied on Saudi Arabia and Angola for its oil, but the share of imports from those countries has been falling, bumped ...
OPEC agrees to oil production cuts
USA Today - 11/30/2016 7:00:21 PM
... after a group of the world's largest oil producers reached a deal in Vienna, Austria, to curb production for the first time in eight years. The agreement among the Organization of the Petroleum Exporting Countries comes amid a glut of global oil ...
OPEC Oil Production Hits New All Time High As Brent Surges To 16 Month High
talkmarkets.com - 12/5/2016 12:20:43 PM
The greatest trick OPEC ever pulled was convincing the world to buy oil even as production kept rising to new all-time ... in supply means the Organization of the Petroleum Exporting Countries will have a bigger task in complying with a plan to cut supply ...
OPEC deal to cut oil production put in doubt by Iran and Iraq
dw.com - 11/29/2016 1:46:35 PM
OPEC member countries, facing a price collapse since 2014, had outlined an agreement to cut oil production to about 32.5 to 33 million ... Saudi Arabia, the unofficial leader of OPEC, is the world's largest exporter of petrolium Effect on prices Despite ...
Game of oil: Behind the OPEC deal
Al JAZEERA - 12/3/2016 2:53:25 PM
For the first time in eight years, the Organization of the Petroleum Exporting Countries (OPEC) has decided to cut its oil production ... big market moves have implications for the rest of the world. We take a look at Donald Trump's economic policies ...