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, Venezuela Meeting Ends With No Oil-Production Agreement
Wall Street Journal - 2/7/2016 7:44:47 PM
DUBAI—Saudi oil minister Ali al-Naimi met with his Venezuelan counterpart on Sunday but didn’t announce any plans for the production ... Exporting Countries, including Iran and nonmember Russia. Mr. del Pino wants Saudi Arabia, the world’s largest ...
OPEC Meeting Imminent? More and More Countries Demand Emergency Measures Amid Oil Crisis
The Latin Post - 2/8/2016 5:53:14 AM
With the current levels of production and with crude's biggest markets ... Together with the six OPEC members, Russia and Oman, both countries which are also among the world's largest oil producers, have also stated that they support an emergency OPEC ...
Oil production: A Slippery Issue
Philadelphia Daily News - 2/7/2016 2:55:28 AM
With the Saudis pumping like crazy, the Iranians returning to the market, and U.S. production near ... to ship oil out of the country. Less oil here and more oil there can only mean that U.S. prices will have to rise to world levels.
Oil Prices Fall, Pressured by Strong Dollar, Oversupply Worries
SoloNews - 2/8/2016 4:55:58 AM
our oil production-when added to the oil produced by the world's other major producers-has substantially increased the global supply. Over the past year, the Organization of Petroleum Exporting Countries has purposefully kept production high in an attempt ...
Oil Production Is Going To Drop And Oil Prices Are Likely To Increase
Seeking Alpha - 2/8/2016 2:32:48 AM
That could be a collapse in several economies of the world…or a collapse of the economy in one country, China. In other words, it is a given that production is going to decline. So if demand stays constant, or rises, then the price of oil will definitely ...
Fair price for oil is $130 & will be, despite Saudi attempts - World Bank consultant
RT - 2/8/2016 7:40:36 AM
from the global economy to oil producers around the world: The U.S. shale oil production, even the rich members of OPEC, like Saudi Arabia, UAE, Qatar, Kuwait - all these countries, their budgets are dependent on the oil revenue to the tune of 85-90%.
World's Largest Energy Trader Sees a Decade of Low Oil Prices
Bloomberg - 2/8/2016 7:40:36 AM
Oil prices ... Exporting Countries in November 2014 diverged from its traditional policy of adjusting supply to manage prices, announcing it would maintain output to defend its position in the market. The group formally dropped any production limits ...
Oil edges up ahead of Lunar New Year
Bills Insider - 2/8/2016 4:34:29 AM
Before the United States became a noteworthy player in the world oil market, when oil prices declined ... on Sunday but didn't announce any plans for the production cut the South American country says is needed to prop up crude prices.
Ruble rebounds as Russian Federation considers oil production cuts
Pop & Herald - 2/7/2016 3:45:34 AM
Some countries have had to devalue their currencies. "While we view this outcome as unlikely, a 5% production cut by just Saudi ... if they want OPEC to help producers deal with the oil glut with the world running out of space to stockpile unwanted crude.
Daesh aims to create chaos in Libya by 'disrupting' oil activity
MENAFN - 2/8/2016 1:38:31 PM
(MENAFN - The Journal Of Turkish Weekly) As Daesh (Islamic State) militants continue to increase their presence in Libya they have not yet sought to gain control over the country’s oil fields but rather to disrupt oil production in Libya political ...
Cheap oil is creating windfalls for consumers, but also killing jobs and shaking up global governments
ABQJournal - 2/7/2016 8:39:03 AM
China is the world’s fifth-biggest oil producer ... compared with 40 percent up until 2012. However, the country has postponed or canceled some oil projects, and delayed auctions for deep water exploration and production oil contracts, as part of ...
This is oil's endgame
The Business Insider - 2/6/2016 8:57:33 PM
They have a long list of tools to exhaust—including a sharp yuan devaluation—before they allow their country to ... draws to an end. World Oil Supply/Demand Should Balance in 2016 As prices inch closer to the cash cost of production, and oil producers ...
The highs, lows of oil
The Columbian - 2/6/2016 5:05:30 AM
Oil accounts for 20 percent on national revenue, compared with 40 percent up until 2012. However, the country ... China is the world’s fifth-biggest oil producer, but financially strapped state-owned oil companies are likely to cut production.
Oil rises to $34 on production cut talks
Daily Croton - 2/6/2016 3:32:26 AM
"This will more than offset the excess in supply and could even cause a shortage of oil in the world market". A Gulf source told CNN ... Non-OPEC Russia said this week it could cooperate with OPEC on production curbs, something it had been refusing to ...
Export earnings from oil, gas drop by 50 per cent
The Guardian - Nigeria - 2/8/2016 3:30:04 AM
there are indications that crude oil production cost may not have favoured offshore activities after all, with the plummeting fortunes of the commodityís price in the world market. With the price of Organisation of Petroleum Exporting Countries (OPEC ...