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 prices tank as hopes of production freeze fade
CNN Money - 9/27/2016 7:58:57 AM
For the world's major oil producers, it looks like the answer will once ... but they haven't determined the final formula on when to start the oil production freeze and how many countries will be involved. Saudi Arabia's Energy Minister Khalid Al-Falih ...
OPEC reaches deal to limit oil production to be implemented November – report
RT - 9/28/2016 7:17:48 PM
Representatives of the OPEC countries are currently in Algeria attending the International Energy Forum. The agreement to cut production among the world's largest oil producers could lead to oil supply coming more in line with the demand for the energy source.
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 ...
OPEC Ministers Reach for Compromise on Oil Output
The Wall Street Journal - 9/28/2016 2:10:00 PM
the country’s oil minister Bijan Zanganeh said. If that condition were met, he said he would consider a broader deal that limits output overall from OPEC, the 14-nation cartel that controls over a third of the world’s oil production. OPEC members are ...
Emerging Stocks Rise for Second Day as Oil Surge Lifts Producers
Bloomberg - 9/28/2016 7:03:29 PM
Gains in oil prices buoyed energy stocks as a delegate briefed on the matter said the agreement calls for the group that supplies about 40 percent of the world’s oil to cut production to ... after the country’s first exchange-traded fund began trading ...
Any Good News for Crude Oil Tankers from Refinery or Supply Data?
Market Realist - 9/28/2016 11:18:12 AM
Crude oil production has gradually fallen since the beginning of 2016. According to a report by OPEC (Organization of the Petroleum Exporting Countries), the world’s oil supply fell 0.14 MMbpd (million barrels per day) and stood at 95.7 MMbpd in August ...
Oil settles up 5.3% at $47.05 after report OPEC reaches deal to limit oil output
CNBC - 9/27/2016 6:14:34 PM
The producing group will agree concrete levels of production by each country at its next formal meeting in ... possibility of slowing global demand as a bearish factor for oil prices. The World Trade Organization cut its forecast for global trade growth ...
Moonshot Crude: Reports of Oil Production Cap Vaults Oil Prices
Barron's - 9/28/2016 2:24:19 PM
Oil prices darted higher after a Reuters report that Organization of Petroleum Exporting Countries has reached a deal to limit oil production in November ... deal to limits output overall from OPEC, the world’s oil cartel, might be met.
Old rivalries seen blocking OPEC deal to support oil price
FOX News - 9/28/2016 9:45:08 AM
ALGIERS, Algeria – Prospects are dim for a deal among OPEC countries on Wednesday to freeze 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 more amenable ...
Energy stocks are jumping after a report that OPEC reached a deal to limit production
The Business Insider - 9/28/2016 2:31:28 PM
US stocks, led by the energy sector, jumped with oil prices after a report that the Organisation of Petroleum Exporting Countries agreed to limit ... An agreement to curtail production among some of the world's largest oil producers could lower the glut ...
Russia smashes post-Soviet crude production record
Gulf Times - 9/28/2016 7:03:29 PM
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 bpd to the country’s production. The output surge comes as Opec nations meet in Algeria, with discussions to ...
Saudi Stocks Tumble as Fading Oil Deal Adds to Budget Pessimism
Bloomberg - 9/28/2016 2:49:58 AM
(Bloomberg) -- Saudi Arabian stocks lost the most in the world for a second straight day amid waning hopes for an oil-production deal that ... Organization of Petroleum Exporting Countries on the group’s production targets. The countries started the ...
Venezuela Warns of “Oil Price War” without Agreement between Producers
panampost.com - 9/28/2016 1:59:51 AM
EspañolThe world’s largest oil producers Iran and Saudi Arabia have hindered an agreement to freeze oil production, while countries like Venezuela warn of a “price war” in the absence of a consensus. An informal meeting was held in Algeria this ...
OPEC said to agree on first oil output cut in eight years
worldoil.com - 9/28/2016 7:10:39 PM
ALGIERS (Bloomberg) -- OPEC agreed to cut production for the ... the head of Vitol Group BV, the world’s largest oil-trading house, said that the crude market could remain oversupplied until 2018 unless producing countries stop flooding the market.
OPEC agrees to limit oil output at 32.5 million bpd
Reuters - 9/28/2016 6:49:10 PM
The producing group will agree concrete levels of production by each country at its next formal meeting in November ... two sources familiar with the matter said, as the world's biggest retailer aims to get a slice of a fast-growing online retail market.