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
May cut oil production
Castanet - 1/19/2017 4:13:41 PM
OPEC countries could cut oil production again this year, Saudi Arabia's energy minister said Thursday. Speaking at the World Economic Forum at the Swiss ski resort of Davos, Khalid Al-Falih said he "would not exclude" another cut to follow last year's ...
'No need to extend oil production cuts beyond six months': Saudi oil minister
Al Bawaba - 1/19/2017 7:59:46 AM
Saudi Arabia’s Energy Minister Khalid al Falih, in an interview at the World Economic Forum in Davos, said on Tuesday that the oil cut deal struck between Oil Producing and Exporting Countries (OPEC), will not be necessary beyond June. The window of ...
China’s Five-Year Plan Shows 200 Million Ton Increase In Crude Oil Production By
Oil Price - 1/19/2017 5:15:07 AM
China’s new five-year plan for its oil and gas sector shows an increase in crude oil output of 200 million tons by the year 2020, with natural gas production capacity up ... also because of the maturation of the country’s superfields, which made ...
OPEC Faces Headwinds From Rising Non-OPEC Production
The Wall Street Journal - 1/19/2017 10:37:15 AM
The Organization of the Petroleum Exporting Countries—the 13-nation oil cartel that controls over a third of global crude production—promised to...
Oil Falls on OPEC Production Cut Doubts (USO, UCO)
diy-home-garden.com - 1/20/2017 2:57:56 AM
Meanwhile, Iraq has said that the autonomous Kurdish region was exporting more than its allocated share of oil as the country ... production starts growing as OPEC is cutting output, oil market optimism may disappear quickly as it becomes clear that the ...
Report: Global oil demand up, supply down; Analysts: ‘Bullish, really bullish’
Fuel Fix - 1/19/2017 5:18:06 PM
Michael Ciaglo / Houston Chronicle ) U.S. oil prices rose on Thursday morning following ... After record drilling in most of 2016, the Organization of the Petroleum Exporting Countries cut production by 320,000 barrels per day last month to 33 million ...
Saudi oil minister: I don't lose sleep over shale
CNN Money - 1/19/2017 12:10:18 PM
Saudi Arabia's oil minister says he is not worried about increased competition from the U.S. "I don't lose sleep that shale is going to come and overwhelm us," Khalid al-Falih told CNNMoney's John Defterios at the World ... to put production on hold.
OPEC Reports Slight Drop in Oil Glut, Flags Recovery of US Shale
This Day Live - 1/19/2017 12:57:25 AM
Released yesterday by the cartel, the MOMR said: “Preliminary data indicates that the world’s oil ... compliance with pledged production adjustments. The revised 2017 forecast expects average oil production by these 11 countries in 1H17 (first half ...
Oil rises from one-week low as IEA says world market tightening
hellenicshippingnews.com - 1/19/2017 10:51:34 AM
Sentiment in oil markets has been torn between expectations of a rebound in U.S. shale production and hopes that oversupply may be curbed by output cuts announced by the Organization of the Petroleum Exporting Countries (OPEC) and others producers.
Socialism, Not Oil, Is The Cause Of Venezuela's Problems
zerohedge.com - 1/19/2017 8:28:24 AM
For example, in a 2007 speech sponsored by the Bank of Venezuela, Joseph Stiglitz — 2001 recipient of the Nobel Prize in Economic Sciences and former senior vice president and chief economist of the World Bank ... on similar oil producing and Latin ...
As Always, China Looms Large for Oil ETFs
ETF Trends Setting The Pace - 1/19/2017 8:28:24 AM
Declining production in China, one of the world’s largest oil consumers ... was still a worthy investment,” reports OilPrice.com. Eleven other major oil-producing countries that are not OPEC members, including Russia, have also vowed to trim output.
OPEC Chief Says "Tremendous Efforts" Are Being Made In Cutting Production But Dodges Question of Whether the Cutbacks Are Enough
Ship Bunker - 1/20/2017 12:06:08 AM
To hear Mohammed Barkindo, secretary general for the Organization of the Petroleum Exporting Countries (OPEC) tell it, the first fortnight of the cartel's implementation of its highly-criticized production ... analyst for PVM Oil Associates, to offer ...
Oil futures slump on prospect of rising United States production
Diaro Catolico - 1/19/2017 5:53:54 PM
More deals are likely this year as the large overhang of crude oil in the world that has weighed on the market ... The U.S. will make up 320,000 barrels per day of that production growth after the country saw a 475,000 barrels per day decline in 2016.
Kashagan Ramps-Up, Oil Market Beware
thesurge.com - 1/19/2017 8:42:43 AM
Further, the country’s 2016 production was approximately 1.38 M/bpd with most ... billion a year in tax revenues and royalties to the state budget, depending on world oil prices. Clearly, the higher the price of oil, the more quickly the cost of ...
4 Reasons To Be Concerned About Oil Prices Falling
Seeking Alpha - 1/19/2017 4:20:50 PM
I don't know how it would happen, but if these countries ever regained their footing oil production-wise they alone could throw ... represents a staggering 15 percent of the portfolio of a world-class activist investor who has averaged 20% annualized ...