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
Shares in oil giants BP and Shell surge on oil production cut deal
Sky News HD - 9/29/2016 7:20:47 AM
But until now the Organisation of Petroleum Exporting Countries - dominated by Saudi ... In April, Saudi Arabia said it would cut production if Iran did the same. But Iran, readmitted to world oil markets this year after being freed of economic sanctions ...
Oil prices barely higher as market wary over OPEC production agreement
Market Watch - 9/29/2016 1:22:53 AM
“This should remove the systematic risks in the global banking system with leveraged loans to oil exporting countries ... production cut among the low-cost producer is “self-defeating” because it would provide more premium for oil drillers around the ...
OPEC reaches preliminary accord to curb oil production
Chron - 9/29/2016 2:12:59 AM
"We reached consensus to regulate the oil market through reductions in production," he said. "We hope this decision will stabilize prices." Russia, the world's number two producer, is not an OPEC member but the country's energy minister, Alexander Novak ...
OPEC agrees modest oil output curbs in first deal since 2008
Reuters - 9/29/2016 12:54:15 AM
However, how much each country will produce is to be decided at the next ... Together, the three largest global producers extract a third of the world's oil. Iran's production has been stagnant at 3.6 million bpd in the past three months, close to pre ...
Oil jumps after reports of OPEC deal
USA Today - 9/28/2016 3:00:06 PM
If it sticks — and that's a big if — an accord could help ease the global glut of oil that has washed over the world in the last two years. OPEC member countries agreed to slash production by about 740,000 barrels per day to 32.5 million ...
Saudi Arabia u-turned on its unlimited oil policy and prices are jumping
The Business Insider - 9/29/2016 2:55:56 AM
The countries agreed to limit production to a range of 32.5-33.0 million barrels ... As Bloomberg's Javier Blas put it, in the standoff between the Kingdom and the rest of the world's oil producers, Saudi Arabia blinked first.
What The OPEC Production Agreement Means
Seeking Alpha - 9/29/2016 6:52:09 AM
How does this fit into the world-wide market going forward? Oil prices have just spiked by ... Despite OPEC's efforts to manage production and maintain targeted price levels, member countries do not always comply with the production targets adopted by ...
Oil prices surge after OPEC agrees surprise cut in production
France 24 - 9/29/2016 6:52:09 AM
OPEC members, whose countries produce 40 percent of the world's crude oil ... last year saw a 25 percent fall in investment in oil and gas exploration and production and the agency says the decline is continuing apace. Amid record output, there is discord ...
OPEC deal shows Saudi oil strategy has backfired, says John Kilduff
CNBC - 9/28/2016 7:32:07 PM
The concessions offered by Saudi Arabia in its bid to lock down a deal to limit the world's oil supply show the ... the head of Libya's state-run National Oil Company, said the country's oil production had more than doubled to 485,000 barrels a day ...
In U-turn, Saudi Arabia choose higher prices over free oil markets
Live Mint - 9/29/2016 6:23:31 AM
The decision at this week’s meeting of the Organization of Petroleum Exporting Countries (Opec) in Algiers to cut production was necessitated ... Arabia agreed to pare output, the world’s most expensive oil field—the $50 billion Kashaghan in ...
OPEC nears preliminary accord on oil production
News1130 - 9/28/2016 1:02:35 AM
ALGIERS, Algeria – OPEC countries neared agreement on a preliminary accord Wednesday to limit oil production and support oil prices ... Saudi Arabia, the world’s biggest oil producer and Iran’s rival for power in the Middle East, appears to be ...
OPEC agrees to limit oil output at 32.5 million barrels per day
Mag-Series USA - 9/29/2016 5:11:56 AM
OPEC members, whose countries produce 40% of the world's crude oil ... OPEC accounts for about one-third of the world's oil production. Saudi Energy Minister Khalid Al-Falih has this week promised to "support any decision aimed at stabilizing the market".
Tentative oil curbs reached; prices up
Arkansas Online - 9/29/2016 2:20:08 AM
The preliminary deal will limit output from the Organization of the Petroleum Exporting Countries to ... another proposal to cap production earlier this year. Ian Taylor, the head of Vitol Group BV, the world's largest oil-trading house, said the crude ...
Russia Smashes Post-Soviet Oil Supply Record as OPEC Weighs Curb
Bloomberg - 9/29/2016 5:19:06 AM
(Bloomberg) -- Russia, the world’s largest energy exporter, is on course to pump a post-Soviet record amount of oil in September, adding as much as 400,000 barrels a day to the country’s production. The output surge comes as OPEC nations meet in ...