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
World oil demand rising in wake of production cuts: IEA
CBC - 1/19/2017 2:04:50 PM
This year the agency expects world oil demand growth of around 1.3 million bpd. Oil production in the United States and other countries outside of OPEC were beginning to respond to higher prices since the announcement of the OPEC production cuts ...
Saudi Arabia says compliance to oil output cut 'very strong'
San Francisco Gate - 1/19/2017 6:33:52 AM
DAVOS, Switzerland (AP) — Saudi Arabia's energy minister says there's been "very strong compliance" by OPEC and non-OPEC oil countries to the production cuts agreed on in December. Speaking at the World Economic Forum at the Swiss ski resort of Davos ...
10 Countries Most Reliant on Oil
INSIDER MONKEY - 1/18/2017 11:35:42 AM
... how much of the GDP the oil rents (difference between the value of crude oil production at world prices and total costs of production) were in 2014 for a number of countries. We compiled all this data, offered points for each nation, depending on ...
'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 ...
Rising U.S. shale-oil output threatens OPEC’s production pact
Market Watch - 1/17/2017 5:03:11 AM
An oil pump jack works at dawn ... of 41,000 barrels a day in February oil production to 4.748 million barrels a day. “That is bearish for oil and a concern for [the Organization of the Petroleum Exporting Countries,” said James Williams, energy ...
China's Oil Collapse Is Unintentionally Helping OPEC
Bloomberg - 1/17/2017 7:15:01 PM
Brent crude, benchmark for half of the world’s oil, averaged about $45 a barrel ... output as much as expected because of high production costs, said Bernstein’s Neil Beveridge, who forecasts the country will pump 4 percent less this year.
Oil Production Here Is Declining Faster Than Anywhere On Earth
Yahoo Finance - 1/18/2017 4:43:30 PM
In fact, the decline is substantially greater than production pullbacks anywhere else in the world ... Pacific’s “big four” oil producers — China, Indonesia, Malaysia, and Thailand. Coming as big fields in those countries hit maturity — thus ...
Land Rush in Permian Basin, Where Oil Is Stacked Like a Layer Cake
nytimes.com - 1/18/2017 8:15:16 AM
“The Permian Basin has now become the crown jewel of the world’s oil and gas industry,” said Scott ... firming as members of the Organization of the Petroleum Exporting Countries moved to cut production. The Bass family had tried to sell its private ...
Russian oil output seen reaching new highs in 2017
hellenicshippingnews.com - 1/18/2017 11:50:01 AM
Russian oil production ... the Petroleum Exporting Countries (OPEC) and other oil producers, led by Russia, agreed last month to cut their oil output during the first six months of the year to prop up prices. Russia, among the world’s biggest oil ...
Saudis see no need to extend OPEC production cuts beyond six months
Canal CNC Arauca - 1/16/2017 9:39:22 PM
Proof of cuts to oil production by OPEC and non-OPEC countries ... the first such collaboration between Opec and non-Opec countries since 2001. The discrepancy between the notion that the world is drowning in oil inventories that will take years to ...
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 ...
MARKET WATCH: Saudi comments lift crude oil prices on jittery world markets
Oil & Gas Journal - 1/17/2017 4:01:44 PM
Saudi Oil Minister Khalid al-Falih told reporters in UAE that he expects the world oil oversupply ... Saudi will adhere strictly to its oil production reduction commitment. The Organization of Petroleum Exporting Countries and some members outside OPEC ...
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.
With OPEC Meetings Looming, Here’s Where Oil Production Cuts Stand
ETF Daily News - 1/17/2017 9:20:52 AM
In the meantime, the world is watching closely and hanging onto every ... Saudi Arabian Energy Minister, Khalid Al-Falih, late last week confirmed that the country had reduced oil production to less than 10 million barrels a day. This is lower than the ...
Oil Prices Fall; U.S. Shale Production To Blame
Barron's - 1/18/2017 1:44:33 PM
While production from OPEC has fallen, climbing output from countries ... the world’s top crude exporter, previously committed to cutting. Earlier in the week, the U.S. Energy Information Administration projected that shale oil production would increase ...