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
Oil cartel seeks output cutbacks by non-member countries
FOX News - 12/10/2016 12:43:25 PM
VIENNA – OPEC member states are meeting with Russia and other non-OPEC countries in Vienna for talks about a reduction in oil production. Secretary General Mohammed Barkindo said the discussions began Saturday in a "positive atmosphere" at the ...
OPEC, oil-producing nations strike deal to cut output
Market Watch - 12/10/2016 9:37:18 AM
VIENNA—Oil-producing nations on Saturday struck a deal to cut output along with the Organization of the Petroleum Exporting Countries, a pact designed to reduce a global oversupply of crude, lift prices and lend support to economies hurt by a two-year ...
OPEC, non-OPEC agree to their first global oil pact since 2001
Reuters - 12/10/2016 10:41:44 AM
Many non-OPEC countries such as Mexico and Azerbaijan face a natural drop in oil production and some analysts expressed doubts those declines should be counted as cuts. Industry sources said Oman and Kazakhstan had yet to inform their foreign partners on ...
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 ...
Costa Rica leads Latin America renewable-energy-producing countries
Costa Rica Star - 12/10/2016 11:24:41 AM
Arroyo added, however, that these countries still have a “high dependency” on those greenhouse-gas-producing fuels, above all in the transportation sector, 80 percent of which depends on oil, and in ... 7 percent of the world’s electricity, and ...
OPEC cut pushes oil prices up to 16-month high
The Christian Science Monitor - 12/4/2016 11:56:15 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OPEC, founded in Baghdad in 1960, was originally made up of the world’s five largest oil producing countries: Iraq, Iran, Kuwait, Saudi Arabia, and Venezuela.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 ...
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 ...
OPEC Agrees To First Cut In Oil Production Since 2008
OPB - 11/30/2016 12:05:10 PM
For the first time in eight years, the Organization of Petroleum Exporting Countries has agreed ... sense of responsibility” for all oil-producing nations, he said, as well as the “well-being and health” of the world economy. Rebalancing the market ...
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 ...
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.”
Non-OPEC Said to Join OPEC in First Global Oil Cuts in 15 Years
Bloomberg - 12/10/2016 8:11:24 AM
It’s unclear whether the non-OPEC cuts include natural declines from countries such as Mexico, or constitute genuine production cuts ... Saudi Arabia, OPEC’s de facto leader and the world’s top oil exporter, has long insisted that any reductions ...
Oil Outlook 2017: A Post-OPEC World?
Barron's - 12/9/2016 7:18:19 PM
With big oil producers that are not members of the Organization ... with a focus on sustaining free cash flow, balance sheet, and production growth per share in a $50-60 world. On valuation, we see ~14% average total return potential by year-end 2017 ...
OPEC Seeks Cuts From Nations Pumping a Fifth of Oil
bloomberg.com - 12/5/2016 8:17:20 AM
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 Oil-Output Deal Faces Its First Test
hellenicshippingnews.com - 12/9/2016 7:32:38 PM
OPEC officials said the organization now sees itself as a loose coalition of producing countries, some in OPEC ... together they would remove almost 2% of the world’s oil supply. Over its 56-year history, the cartel has often called on non-OPEC producers ...