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 Price Forecasts Beset with Uncertainty
This Day Live - 10/23/2016 12:25:47 AM
Within the week, the World Bank said oil prices for the year 2017 could get up to $55 per barrel on the back of planned production cut by member countries of OPEC. It, however, stated that this was with some level of uncertainty. Chineme Okafor reports In ...
Russia Oil Minister Meets Saudis, Gulf Countries in Riyadh
New York Times - 10/23/2016 11:31:30 AM
as the kingdom pushes to convince major oil producing countries to cut production in order to increase prices. In a statement, Oil Minister Khalid Al-Falih said the Sunday meeting seeks to "restore balance" to the market, where a surge in production ...
5 Negative Factors For Oil Prices
Yahoo Finance - 10/23/2016 11:55:58 PM
The country is now the world’s largest crude oil importer ... is home to around 35 percent of global crude oil production. Other geopolitical events with a more remote likelihood of impacting the global oil markets are Iraq, in particular the battle ...
Russia oil minister signals cooperation with Saudis on price
Chron - 10/23/2016 5:43:44 PM
as the kingdom seeks to convince major oil producing countries to cut production in order to increase prices. After the meeting in the Saudi capital, Russian Oil Minister Alexander Novak was quoted in a ministry statement as saying that the parties had ...
Saudi King, Venezuelan president discuss oil market stability
Reuters - 10/23/2016 3:17:35 AM
DOHA The king of Saudi Arabia, the world's largest oil exporter, met Venezuela's president ... The Organization of the Petroleum Exporting Countries (OPEC) agreed in Algiers on Sept. 28 to reduce production to a range of 32.5 million to 33.0 million ...
World Bank Forecasts Oil Price to reach $55 in 2017
footprint2africa.com - 10/22/2016 7:53:46 PM
The World Bank is raising its 2017 forecast for crude oil prices to $55 per barrel from $53 per barrel as members of the Organization of the Petroleum Exporting Countries (OPEC) prepare to limit production after a long period of unrestrained output.
Oil price lifted by Russia's Opec freeze
perspectivabetica.com - 10/23/2016 9:54:16 PM
According to the report, global oil supply rose by 0.6 mn bpd in September, with non-OPEC up almost 0.5 mn bpd on higher Russian and Kazakh flows and OPEC at an all-time high of 33.64 mn bpd, on robust Middle East production ... that the world's top ...
Russia’s Rising Oil-Output Forecasts Give Leverage in OPEC Talks
hellenicshippingnews.com - 10/23/2016 10:58:42 PM
They were echoing several other OPEC member that claim the group is underestimating their own production — a strategy that ... which is vying with Saudi Arabia for the title of the world’s largest oil producer, has pledged cooperation, but President ...
Venezuela's oil giant warns of default next week
Channel 3000 - 10/23/2016 11:34:29 PM
Things have been so badly mismanaged that Venezuela's oil production hit a 13-year low over the ... many American companies have stopped tracking sales in the country. Despite sitting on the world's largest oil reserves, Venezuela is running out of food ...
Kenya: Early Pilot Scheme Is Vital for Production of Kenya's Crude Oil
AllAfrica - 10/23/2016 7:59:44 PM
These Bills set out the industry's regulatory structure and ensure that it is managed in a transparent and equitable manner, with all production-sharing ... Trucking of oil by road is widely practised in the world, for example in the United States, Canada ...
Why economic corruption or an oil decline will lead to a financial crash, depression, and permanent energy crisis
energyskeptic.com - 10/23/2016 9:11:19 PM
Many oil-producing countries are not investing enough in their oil fields ... Hirsch, R.L., 2008. Mitigation of maximum world oil production: shortage scenarios. Energy Policy 36(2):881–889. Höök, M., Bardi, U., Feng, L. & Pang, X.
Saudi Arabia Should Pay A Tax To America For Every Barrel Of Oil It Sells To China
Forbes - 10/23/2016 11:10:01 AM
Because up to 1973, America was the world’s largest ... What ties the two countries together then? Geopolitics. America’s determination to keep Saudi oil flowing through the Gulf. “Critics also point to the rise in US oil production as evidence ...
Oil price likely to average $53 in ’17 on output curbs
Oman Tribune - 10/22/2016 3:50:23 PM
The World Bank has raised its 2017 forecast for crude oil prices to $55 per barrel from $53 as members of the Organisation of the Petroleum Exporting Countries (Opec) prepare to limit production after a long period of unrestrained output. For 2016 ...
Oil up on Russia-OPEC Hopes
worldenergynews.com - 10/22/2016 1:12:54 PM
Oil prices, which in February hit 12-year lows of around $26, have risen more than 13 percent since Sept. 27, when the Organization of the Petroleum Exporting Countries announced plans to curb production for the first time in eight years to rein in a ...
Venezuelan wants U.S. at oil meeting
Arkansas Online - 10/23/2016 3:31:54 AM
Maduro, whose country holds the globe's biggest oil reserves, said on Venezuelan state ... OPEC, which pumps about 40 percent of the world's crude, agreed Sept. 28 in Algiers to limit production to a range of 32.5 to 33 million barrels a day in a bid ...