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
Iran Races to Clinch Oil Deals Before Donald Trump Takes Office
New York Times - 12/9/2016 12:41:37 AM
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 ...
OPEC agrees to cut barrel production by 1.2 million a day to push up oil price
FOX News - 11/30/2016 5:05:49 PM
VIENNA – OPEC has agreed to cut its oil production for ... of the Petroleum Exporting Countries. The Saudis have long been hesitant to shoulder the lion's share of a cut, while Iran has resisted reducing its own production. It argues it has yet to ...
Non-OPEC producers might not be scared enough to cut oil output
CNBC - 12/8/2016 3:51:55 PM
The Organization of the Petroleum Exporting Countries played hardball with ... annual average price); World Bank World Development Indicators (GDP in current US dollars); value of oil production calculated as annual oil production times average oil price ...
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 ...
Oil prices keep surging after OPEC hashes out a deal to cut production
Vox - 12/1/2016 4:18:42 AM
Two years ago, global oil prices crashed after the world started pumping out far more ... On Wednesday in Vienna, the Organization of the Petroleum Exporting Countries reached a deal to cut their oil production by 1.2 million barrels per day in order ...
OPEC Agrees To First Cut In Oil Production Since 2008
WVTF Public Radio - 11/30/2016 11:15:04 AM
"The agreement is contingent on key non-OPEC countries agreeing to also cut oil production by 600,000 ... of responsibility" for all oil-producing nations, he said, as well as the "well-being and health" of the world economy. He also said that the Russian ...
Poll: OPEC deal will pack little punch in raising oil prices
Reuters - 12/8/2016 5:57:46 AM
If all members of the Organization of the Petroleum Exporting Countries honor ... inventories and not high oil prices, which would instead unleash a sharp production response both in the U.S. and in the rest of the world," U.S. investment bank Goldman ...
OPEC Agrees to Decrease Oil Production to 600000 Barrels Per Day
myhealthbowl.com - 12/9/2016 10:42:55 AM
With non-OPEC countries also agreeing to a production cut of 0.6 million barrels per day, oil prices have regained the psychological ... for market share is not over - especially in Asia, the world's biggest consumer region - Saudi Aramco cut the January ...
Oil Market Stabilised By Output Cut Vital For India: OPEC
Canal CNC Arauca - 12/9/2016 10:35:46 AM
Despite OPEC's cheating "history" Barkindo defended "today's complex energy markets require open communication and collaboration in order to ensure that the ... production from within its member countries and Russian Federation. Venezuelan Oil Minister ...
OPEC announces deal to cut oil production
World Socialist Web Site - 12/1/2016 9:55:08 AM
Under the agreement, OPEC, which supplies about one-third of the world’s oil, will cut production by ... At this point, it is not clear from which oil-producing countries outside OPEC—including Azerbaijan, Mexico, Oman and Brazil—cuts will come.
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.”
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 ...
Uganda: Museveni Says He's 'Not Excited' About Uganda's Oil. Is Anyone Anymore?
AllAfrica - 12/9/2016 9:38:30 AM
A road, some hotels, that's all we have." Although production has not yet started, political leaders in Kampala have typically touted oil as a panacea to problems faced by one of the poorest countries in the world. This August when production licence ...
Russian Oil Output Near Post-Soviet Record as It Prepares to Cut
celebcafe.org - 12/9/2016 11:54:30 AM
Iran’s oil production decreased dramatically during 2012-2015 due to sanctions and the country says it has right to resume the output to the pre-sanctions level. “The losers are Europe and Japan – oil-importing regions of the world”, Guatieri said.
OPEC deal to cut oil production unlikely to stick, analysts tell Edmonton conference
Edmonton Journal - 12/8/2016 4:46:11 AM
“Every country tried to maximize production to unseen levels even as it negotiated ... “We think the world has moved into recovery mode. We think the world will be consuming more oil that we’re producing,” Birn said. Construction costs for new ...