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
OPEC Reaches Deal to Limit Production, Sending Prices Soaring
New York Times - 12/1/2016 4:36:00 PM
Nigeria has pledged to increase oil production to 2.2 million barrels a day ... deal with Iran negotiated by the Obama administration and other world powers. And even if other countries do not follow Mr. Trump’s lead, persistently low oil prices could ...
OPEC Announces Production Cuts, but 3 Big Questions Remain
Fox Business - 12/3/2016 6:35:19 PM
Russia, which is currently the world's top oil producer ... However, each country has a significant incentive to cheat and pocket a few extra dollars by producing beyond the official quota. In the past, OPEC has suffered significant compliance problems ...
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 ...
What Azerbaijan Plans To Do When The Oil Runs Out
Forbes - 12/4/2016 2:27:46 AM
Azerbaijan and oil are nearly inseparable. Azerbaijan was among the first oil producing countries in the world, and at the beginning of the 20th century it was generating half of the world’s supply. That fossil fuel gave the country its reason to exist ...
OPEC agrees to oil production cuts
USA Today - 11/30/2016 7:00:21 PM
... after a group of the world's largest oil producers reached a deal in Vienna, Austria, to curb production for the first time in eight years. The agreement among the Organization of the Petroleum Exporting Countries comes amid a glut of global oil ...
Oil Prices Surge as OPEC Agrees to Cut Production
US News and World Report - 12/1/2016 10:16:37 AM
For the past two years, world markets have ... while bringing its domestic production back online with higher prices. China has heavily relied on Saudi Arabia and Angola for its oil, but the share of imports from those countries has been falling, bumped ...
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.
Maduro celebrates landmark OPEC agreement to cut oil production
Jamaica Observer - 12/3/2016 2:46:15 PM
CARACAS, Venezuela (Xinhua) — Venezuela’s President Nicolas Maduro hailed yesterday an agreement by the Organization of Petroleum Exporting Countries (OPEC) to reduce oil production for the first time in eight years. Maduro’s reaction came after the ...
OPEC countries make deal
Flapship - 12/4/2016 12:26:05 AM
Russian Federation promised to support a push by the Organization of Petroleum Exporting Countries to reduce ... next year as a result of the OPEC production cuts. OPEC's cuts are meant to shrink the world's bloated oil stockpiles back to a normal level ...
OPEC has finally agreed to a production cut — and oil is up almost 9%
The Business Insider - 11/30/2016 1:16:45 PM
Additionally, Russia, which is not a member of OPEC but is one of the ... its production levels by 200,000 barrels. Indonesia has been suspended from the group, and OPEC has agreed to distribute Indonesia's oil output share among certain countries ...
Big Oil is in decline, and the OPEC deal can’t rescue it
Market Watch - 12/3/2016 8:55:30 AM
In case you missed it, the agreement resolves to remove about 2% of global oil production, with the Organization of Petroleum Exporting Countries’ member states ... According to the International Energy Agency, world oil supply has expanded from 90.4 ...
OPEC deal to cut oil production put in doubt by Iran and Iraq
dw.com - 11/29/2016 1:46:35 PM
OPEC member countries, facing a price collapse since 2014, had outlined an agreement to cut oil production to about 32.5 to 33 million ... Saudi Arabia, the unofficial leader of OPEC, is the world's largest exporter of petrolium Effect on prices Despite ...
Trump's presidency - bullish sign for USA oil production
Canal CNC Arauca - 12/3/2016 6:21:00 PM
The cartel said OPEC production in October ... In its annual forecast, the Organization of the Petroleum Exporting Countries said that world oil demand will be 109 million barrels a day by 2040. The forecast was contained in OPEC's annual oil outlook ...
OPEC Confounds Skeptics, Agrees to First Oil Cuts in 8 Years
bloomberg.com - 11/30/2016 8:23:16 AM
OPEC confounded its doubters and sent crude oil prices soaring by agreeing to its first production cuts in eight years ... You will now receive the Game Plan newsletter The impact on the energy world was immediate: benchmark oil prices gained as much ...
What's Next for Big Oil After OPEC Production Cut?
NASDAQ - 12/1/2016 2:59:58 AM
In particular, the oil rout alarmed many of the countries whose economies depend on ... since Oct 27 as investors were impressed by a decision from the world's largest oil cartel to slash production targets. U.S. crude for Jan delivery settled up $4.21 ...