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
Is the oil world big enough for two swing producers?
Washington Post - 9/29/2016 2:44:36 PM
This is what the oil market looks like in 2016: Traders and investors this week had one eye on Algiers, where the Organization of the Petroleum Exporting Countries on Wednesday vowed to cut production ... new circumstances of a world with shale and of ...
The Biggest Winners and Losers From OPEC's Oil Deal
Bloomberg - 9/29/2016 12:07:07 PM
The Organization of Petroleum Exporting Countries' agreement to cut production ends two years of Saudi Arabia's pump-at-will policies, which had sunk oil prices to the joy of drivers in the Western world and the consternation of central bankers seeking to ...
Shares in oil giants BP and Shell surge on production cut deal
Sky News HD - 9/29/2016 4:24:49 PM
But until now the Organisation of Petroleum Exporting Countries - dominated by Saudi ... In April, Saudi Arabia said it would cut production if Iran did the same. But Iran, readmitted to world oil markets this year after being freed of economic sanctions ...
Saudi Arabia U-turned on its unlimited oil policy and prices are jumping
The Business Insider - 9/29/2016 2:55:56 AM
The countries agreed to limit production to a range of 32.5 million to 33 million ... As Bloomberg's Javier Blas put it, in the standoff between the kingdom and the rest of the world's oil producers, Saudi Arabia blinked first.
Venezuela to Freeze Oil Production under New OPEC Deal
nsnbc.me - 9/29/2016 4:53:27 PM
Under the deal, all 14 of OPEC’s member states agreed to freeze oil production ... facilitate a recovery of world crude prices, which have fallen by 60 percent over since late 2014, sparking acute economic difficulties in countries such as Venezuela ...
Oil prices rise after OPEC seriously considers cutting back on production
Vox - 9/29/2016 3:24:34 AM
... soaring around the world, as demand rose after the financial crisis but global production was struggling to keep up. Many older oil fields were stagnating. Conflicts in places like Libya and Iraq were restricting supply. Countries had to draw down ...
OPEC agrees modest oil output curbs in first deal since 2008
Reuters - 9/29/2016 4:28:59 AM
However, how much each country will produce is to be decided at the next ... Together, the three largest global producers extract a third of the world's oil. Iran's production has been stagnant at 3.6 million bpd in the past three months, close to pre ...
Shift by OPEC won't jolt oil prices, experts say
Arkansas Online - 9/30/2016 4:27:48 AM
analysts said this didn't herald a return to the era when OPEC could basically control the oil market through its production levels, not least because non-OPEC countries have a bigger stake than before. Four of the world's top 5 producers aren't even part ...
Oil Update - September 2016
Seeking Alpha - 9/30/2016 10:18:34 AM
The Conference, following the overall assessment of the global oil demand and supply balance presented by the OPEC Secretariat, noted that world ... Countries, supported by the OPEC Secretariat, to study and recommend the implementation of the production ...
Is Saudi Arabia serious about bringing back high oil prices? (+video)
The Christian Science Monitor - 9/30/2016 12:17:16 AM
In the global tug of war over how to bring world oil markets back into balance ... the kingdom agreed this week to support a deal to cut production. The Organization of the Petroleum Exporting Countries (OPEC) came up with the outlines of an agreement ...
Crude Oil Slumps One Day After OPEC Deal to Cut Output
This Day Live - 9/30/2016 1:43:10 AM
Despite the decision of the Organisation of Petroleum Exporting Countries (OPEC ... described Brazil as the world’s leader in the oil and gas business of exploration and production (E&P), adding that Brazil would host Shell’s Eco Marathon competition ...
Oil price and stock markets rise as Opec cuts crude output
hitc.com - 9/30/2016 1:24:41 PM
The group of leading oil-producing countries agreed to limit production to between 32.5m and 33m barrels ... several failed attempts is a reversal of policy for Saudi Arabia, the world’s biggest oil producer, which had sworn to maintain output in the ...
OPEC Members Agree to Cut Oil Production by November
Medafrica Times - 9/29/2016 9:18:18 PM
The 14-member OPEC produces more than a third of the world’s oil ... Iran, Libya and Nigeria are all trying to increase production, while countries like Venezuela and Algeria can ill afford to lose oil revenue by reducing output. Saudi Arabia, the ...
OPEC nations reach preliminary accord to curb oil production
thelakeandeswave.com - 9/30/2016 6:08:01 AM
What's also not clear is how much production each country will cut ... He suggested that "the world may be heading for a period of "goldilocks" oil prices: low enough to provide a sizeable boost to spending on other goods and services, but high enough ...
Oil majors’ selloff worries Norway’s biggest opposition party
worldoil.com - 9/30/2016 1:10:22 PM
the country’s biggest opposition group, is worried about oil majors, such as Exxon Mobil and Total, selling off assets in the North Sea, potentially reducing competition. Norway, which has seen crude production drop by half since 2000 and has been ...