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, 2012See also: Oil - production map
Who Benefits The Most From Lower Oil Prices?
Seeking Alpha - 1/26/2015 2:01:29 AM
Countries benefiting the most will be those with little or no oil production of their own and relatively high ... The best way to help the world's poor people may be to drill for oil in North Dakota and drive down the world oil price.
Algeria lifts oil production, may tap shale gas
petroglobalnews.com - 1/25/2015 11:38:19 PM
Algerian officials said Thursday that the OPEC country will boost its oil production despite global prices hovering ... The country is believed to hold the third largest shale gas reserves in the world. Oil and gas currently account for about 97 percent ...
Saudi Arabia Exports 20% of the World’s Oil
24/7 Wall ST - 1/25/2015 9:19:20 AM
Of the OPEC countries the Saudis account for a third of all ... While the boom in U.S. shale oil production is currently disrupting world oil markets, the overall impact of U.S. reserves and production will eventually (soon?) be adjusted for.
Oil and dollar: Why Obama's love for Taj lost out to Saudi King's death
Firstpost - 1/26/2015 10:15:24 AM
the country which was by then home to the largest oil reserves in the world. Ian Carson and V.V. Vaitheeswaran point this out in their 2007 book, Zoom—The Global Race to Fuel the Car of the Future. Car production had come to a standstill in the United ...
Why Oil Prices May Not Recover Anytime Soon
The Motley Fool - 1/26/2015 1:40:01 AM
However, at the moment economic growth is slowing across much of the world. For oil demand to grow significantly ... still couldn't keep prices up. Other countries in OPEC could try to chip in with their own production cuts to take the burden off Saudi ...
The Most Important Thing To Understand About The Coming Oil Production
investing.com - 1/26/2015 5:29:05 AM
Why is this important? For one very simple reason. Without growth in production from these two countries, world oil production (crude oil plus lease condensate which is the definition of oil) from the first quarter of 2005 through the third quarter of 2014 ...
OPEC, US oil producers collide at $50 per barrel
The Global Times - 1/26/2015 10:15:24 AM
In a monopoly price regime, by contrast, the monopolist can choose a price well above marginal costs and then restrict production ... world's top oil producer, while Saudi Arabia faded into insignificance, not only as an oil exporter but also perhaps as a ...
Oil surges after Saudi King’s death
aquila-style.com - 1/24/2015 5:31:27 AM
Saudi Arabia, the world’s top oil exporter, added to the slide when it led a decision by the Organization of the Petroleum Exporting Countries (OPEC) to keep the cartel’s production quota unchanged at a meeting in November. In afternoon Asian trade on ...
Who controls the power in oil market
The Straits Times - 1/25/2015 10:05:16 PM
Prices would have spiked, countries seeking cheaper oil would have broken ranks - and Iran might ... US output could decline. Production elsewhere in the world will also be flattening. But by then, the world economy might be doing better, stimulating ...
Oil Takes Over the World - Part Two: Inventing the Need for an Unlimited Oil Supply
Daily Kos - 1/24/2015 1:42:23 AM
Also in 1876 - The Petroleum Production Company Nobel Brothers ... By the turn of the century, Azerbaijan was producing more oil than any other country in the world. Also in 1883 - tales of "tar springs" would take Pennsylvanian Mike Murphy west to ...
India’s economy on the rise as oil price drops
The National - 1/24/2015 2:14:00 PM
The country was the world’s fourth-largest consumer and importer of ... Insufficient investment in developing more crude oil and liquids production has caused production to grow at a slower rate than oil demand.” The Middle East is India’s major ...
Death of Saudi king unsettles oil market; prices waver
Japan Times - 1/24/2015 1:06:35 AM
The small rise reflects added uncertainty about Saudi oil policy because the country’s new absolute ... is providing a boost to the stumbling world economy is unlikely to reverse unless Saudi Arabia cuts production or world demand starts strengthening ...
Prince Alaweed predicts end of $100 per barrel oil, which could hamper future production in Alberta
Georgia Straight - 1/24/2015 1:06:35 AM
An influential Saudi Arabian prince has declared that oil prices will never again ... why Saudi Arabia didn't immediately curtail production to raise the world price, Prince Alaweed replied that other countries desperate for revenue would simply boost ...
The countries slammed worst by plunging oil prices
CNBC - 12/5/2014 5:57:56 PM
The drop has taken a multibillion-dollar bite out of the world economies that depend heavily on oil production. It's also created a windfall for countries, companies and consumers that use all that oil. The latest evidence came in Friday's trade data ...
Counter OPEC’s power by boosting American crude oil exports
Your Houston News - 1/24/2015 9:23:30 PM
Drivers can mostly thank the highest level of domestic oil production in four decades -- over 9 million ... But Saudi Arabia, Kuwait, and the rest of the Organization of Petroleum Exporting Countries (OPEC) have recently launched a price war to force ...