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
China's Oil Production Peaks, Increased Foreign Oil Dependency Mounts
Forbes - 8/25/2016 11:54:21 PM
China’s oil production peaked last year at approximately ... So far this year, China’s oil imports have increased by 16%, while the country is poised to pass the U.S. as the world’s largest crude oil importer. The pace of the increase could slow ...
Which Countries Are Damaged Most by Low Oil Prices?
theburningplatform.com - 8/27/2016 7:19:58 PM
Russia is the world’s second-largest crude oil exporter, shipping $86.2 billion to countries outside of its borders in 2015. That’s good for 11.0% of all oil exports globally. Russia’s cost of production in 2015 was relatively low, at $17.30 per barrel.
World’s biggest oil refiner reports profit falls by a fifth
The National - 8/28/2016 1:39:21 AM
China Petroleum & Chemical, the world’s biggest oil refiner ... One of China’s so-called Big Three oil companies, Sinopec’s earnings compare with a 98 per cent profit drop by rival PetroChina, the country’s biggest producer, and the first-ever ...
Trade Dynamics And China, Part 2: The World
econintersect.com - 8/28/2016 5:38:34 PM
while Central and South America countries were consuming 90 percent of their total oil production. Imports and exports by regions Thanks to tariff reforms implemented in the eighties as well as China's accession to the World Trade Organization (WTO ...
Venezuela Has World’s Largest Oil Reserves
24/7 Wall ST - 8/28/2016 8:56:00 AM
That’s the weakest pace since February 2003, Platts said. Venezuela’s shrinking oil production is a reflection of the country’s grim financial situation, which has caused rolling blackouts that have even left oil facilities in the dark. And because ...
Gail Tverberg: How Peak Oil was misunderstood
ecologise.in - 8/28/2016 8:59:00 PM
Our analysis of the discovery and production of oil fields around the world suggests that within the next decade ... estimate of unconventional oil in Figure 2 (instead of the three-country total) would likely result in more of a “peak” in conventional ...
Shale gas production drives world natural gas production growth
eia.gov - 8/15/2016 12:03:13 PM
Shale gas production in 2040 is projected to be 50% higher under the High Oil and Gas Resources ... than 40% of the country's total natural gas production by 2040, which would make China the second-largest shale gas producer in the world after the United ...
Venezuelan Oil Imports Crash Amid Payment, Shipping Troubles
hellenicshippingnews.com - 8/28/2016 9:06:09 PM
Venezuela is now failing to cover collapsing domestic oil production with foreign imports, according to dire reports Friday. Despite holding the world’s largest proven ... Along with producing much of the country’s oil, PDVSA is the Venezuelan ...
Oil Refining Empire Helps Sinopec Outshine Chinese Energy Rivals
Bloomberg - 8/28/2016 9:20:28 PM
The world ... oil and gas research at Nomura Holdings Inc. in Hong Kong, said by phone. “Sinopec’s management deserves a lot of credit for maximizing refining incomes while containing crude losses.” The company’s rival PetroChina Co., the country ...
The OPEC Oil Deal Is Coming… but Not When the Pundits Expect It
Money Morning - 8/26/2016 6:02:24 PM
The catalyst for rising oil prices is the demand in the developing world, specifically ... a target to reach pre-sanction production levels (about 4.2 million barrels a day) is becoming increasingly difficult. So far, the country has been selling out ...
Iran May Attend Algeria OPEC Meeting on Oil Freeze
christiannewstoday.com - 8/28/2016 9:34:47 PM
Saudi Arabian Minister of Energy, Industry and Mineral Resources Khalid al-Falih tempered expectations that the world’s major oil producers would look to freeze production next month ... comprising 73 countries that account for about 90 per cent of ...
Iran Sets Condition Under Which It Would Join OPEC Oil Production Freeze
zerohedge.com - 8/26/2016 9:48:29 AM
In the past two weeks, Iran has rejoined the OPEC production ... oil minister Bijan Zanganeh made the most explicit statement on the topic, when he laid out the conditions under which Iran would be willing to "help other oil producers stabilize the world ...
How a U.S.-Venezuelan link helps oil exports
USA Today - 8/28/2016 7:30:06 AM
U.S. crude oil is increasingly finding markets around the world now that government restrictions on exports ... such as falling U.S. crude oil production and added cargo export costs,” the EIA said. Canada remains by far the biggest foreign market ...
Lagos: Story Of Oil In The Nation’s Economic Hub
Leadership - 8/28/2016 3:33:53 AM
In this report, George Okojie observes that with the recent discovery and consequent commencement of crude oil production in Lagos ... in diversifying the source of crude and gas production in the country,” Mohammed said. LEADESHIP Sunday checks revealed ...
Oil prices fall as hopes of production freeze fade
Business Recorder - 8/25/2016 5:20:39 PM
Oil prices rose more than 20 percent in the first three weeks of August on talk of a potential deal by oil exporters to freeze production levels to try to support prices. Members of the Organization of the Petroleum Exporting Countries will meet on the ...