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-producing nations struggling for market power as prices drop
Sydney Morning Herald - 2/7/2016 12:13:48 PM
forcing it from No. 2 to No. 7 in the ranks of world oil producers. But Riyadh is the elephant in the room, because Saudi Arabia is the oil market's only "swing" producer – that is, a country that can vary production according to market fluctuations ...
World oil output slows by just 0.1% due to low prices
Gulf News - 2/5/2016 12:59:08 PM
That’s taking longer than expected, in part due to the resilience of the US shale industry and slumping currencies in oil-rich countries, which have lowered production costs in nations from Russia to Brazil. The Wood Mackenzie analysis provides an ...
Oil surges on possible OPEC production cuts
NYSE Post - 2/6/2016 4:32:41 PM
OPEC's Secretary-General Abdullah al-Badri said Monday that the world's major crude oil producers ... in February with representatives of other oil-producing countries could be the question of oil production reducing for each producer country at the ...
Oil Soars Towards $34 on Possible Production Cuts
Comment - 2/6/2016 2:09:31 PM
If each country reduces 5% production that would cuts global oil ... Russian Federation and Saudi Arabia can coordinate a cut in oil output. For non-OPEC member Russian Federation, the world's top producer, that would represent an output cut of around ...
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.
Russian Federation oil companies should decide to cut production, not state: deputy PM
Quadrangle - 2/6/2016 2:09:31 PM
If each country cut production by 5%, that would shrink global oil output ... to output cuts if they want the organization to help producers deal with the oil glut with the world running out of space to stockpile unwanted crude. "There is no doubt that ...
China Oil Output Seen Cracking Under Pressure of Price Collapse
Bloomberg - 2/5/2016 7:44:10 AM
The country is the world’s fifth-largest producer and biggest consumer ... China Petroleum & Chemical Corp. said last month oil and gas production fell for the first time in 16 years, while CNPC plans to maintain crude production near 2015 levels.
Oil Extends Gain From Three-Week High as Russia Flags OPEC Talks
youngherald.com - 2/6/2016 1:48:03 PM
The world's second-largest oil producer Saudi Arabia has proposed that all oil-producing countries, OPEC and non-OPEC countries, cut production by 5 percent in a bid to boost declining oil prices in a sign that the Saudis are feeling the backlash of low ...
Russian Federation weighs Opec proposal for oil production cutbacks
wingatewire.com - 2/7/2016 2:33:59 AM
On Tuesday the 5th he will meet with major oil producers ... to reduce production is incorrect", the newspaper reported on Friday with reference to the source who said that other member-states of the Organization of the Petroleum Exporting Countries ...
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 Price Slips Again After Brief Rise
gosporttimes.com - 2/5/2016 8:27:07 AM
In its monthly oil market report for January, the Organisation for Petroleum Exporting Countries said the world's non-OPEC oil supply this ... but this would happen much sooner if OPEC production weren't still rising", said Tim Evans, an energy analyst ...
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 ...
Producers keep pumping, even with oil falling
Yahoo Finance - 2/5/2016 5:09:40 PM
As a result, the world's storage facilities are awash in oil. In the U.S., stocks ... year now that sanctions against that country have been lifted. As U.S. producers keep pumping, there are no signs that crude production is slowing elsewhere, even as ...
The Collapse of Oil IS the Economic Boom
Reason - 2/6/2016 5:01:19 PM
If readers are still not convinced, consider how U.S. oil production alone rose to record levels from ... by some of the least economically and culturally developed countries in the world. Figure even Saudi Arabia brings abundant oil to the marketplace.
Oil Production Vital Statistics January 2016
Oil Voice - 2/5/2016 4:41:02 PM
Course summary This module is designed for people interested in the exploration and production of oil and gas who ... While the rest of the world has lost its appetite for drilling, it remains business as usual for the ME OPEC countries.