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
Saudi, Venezuela Meeting Ends With No Oil-Production Agreement
Wall Street Journal - 2/7/2016 4:17:11 PM
DUBAI—Saudi oil minister Ali al-Naimi met with his Venezuelan counterpart on Sunday but didn’t announce any plans for the production ... Exporting Countries, including Iran and nonmember Russia. Mr. del Pino wants Saudi Arabia, the world’s largest ...
OPEC Meeting Imminent? More and More Countries Demand Emergency Measures Amid Oil Crisis
The Latin Post - 2/8/2016 5:53:14 AM
With the current levels of production and with crude's biggest markets ... Together with the six OPEC members, Russia and Oman, both countries which are also among the world's largest oil producers, have also stated that they support an emergency OPEC ...
Oil production: A Slippery Issue
Philadelphia Daily News - 2/7/2016 2:55:28 AM
With the Saudis pumping like crazy, the Iranians returning to the market, and U.S. production near ... to ship oil out of the country. Less oil here and more oil there can only mean that U.S. prices will have to rise to world levels.
Russia Now China's Biggest Oil Partner
Opposing Views - 2/8/2016 6:46:19 PM
Gas prices have plummeted due to a glut of oil across the world, which is great news ... Market watchers have stated that oil production must shrink to fix this problem, but that would require countries that are competing economically, many of which ...
Cheap oil is creating windfalls for consumers, but also killing jobs and shaking up global governments
ABQJournal - 2/7/2016 8:39:03 AM
China is the world’s fifth-biggest oil producer ... compared with 40 percent up until 2012. However, the country has postponed or canceled some oil projects, and delayed auctions for deep water exploration and production oil contracts, as part of ...
Ruble rebounds as Russian Federation considers oil production cuts
Pop & Herald - 2/7/2016 3:45:34 AM
Some countries have had to devalue their currencies. "While we view this outcome as unlikely, a 5% production cut by just Saudi ... if they want OPEC to help producers deal with the oil glut with the world running out of space to stockpile unwanted crude.
Venezuela fails to persuade Saudis to cut oil production
Market Watch - 2/7/2016 5:40:06 AM
DUBAI — Saudi oil minister Ali al-Naimi met with his Venezuelan counterpart on Sunday but didn’t announce any plans for the production ... Exporting Countries, including Iran and nonmember Russia. Del Pino wants Saudi Arabia, the world’s largest ...
The Collapse of Oil IS the Economic Boom
Reason - 2/6/2016 5:01:19 PM
If readers are still not convinced, consider how U.S. oil production alone rose to record levels from ... by some of the least economically and culturally developed countries in the world. Figure even Saudi Arabia brings abundant oil to the marketplace.
Oil Soars Towards $34 on Possible Production Cuts
Comment - 2/6/2016 2:09:31 PM
If each country reduces 5% production that would cuts global oil ... Russian Federation and Saudi Arabia can coordinate a cut in oil output. For non-OPEC member Russian Federation, the world's top producer, that would represent an output cut of around ...
World's largest energy trader Vitol sees a decade of low oil price
Sydney Morning Herald - 2/9/2016 7:46:35 AM
The forecast would mean oil ... Countries in November 2014 diverged from its traditional policy of adjusting supply to manage prices, announcing it would maintain output to defend its position in the market. The group formally dropped any production ...
Saudi, Venezuela talk of ways to stabilize oil market
Ghana Web - 2/7/2016 7:37:37 PM
However, the comments by Saudi Arabia, the world's largest oil exporter, show no indication of a shift in the country's policy of refusing to ... but nothing about cutting production," said one OPEC source. "It's always good to say discussions were ...
Oil falters on low prospect of output cuts
United Press International - 2/8/2016 2:57:16 PM
Crude oil prices are trading lower because inventories are building amid slowing growth in the world economy ... in response to few signs of production cuts from members of the Organization of Petroleum Exporting Countries. The price for Brent, the ...
As Big Oil shrinks, boards plot different paths out of crisis
The Hindu - 2/8/2016 1:42:41 AM
Crude prices have tumbled around 70 per cent over the past 18 months to around $35 a barrel, leading to five of the world’s top oil companies ... of its future production growth come from gas off the coast of the North African country.
Target to reduce oil import dependence by 10% by 2022, says PM Modi
Daily News and Analysis - 2/7/2016 10:55:04 AM
"When in 2022 we celebrate 75 years of Indian independence, import of oil should be reduced by 10%," he said ... the highest in the world. "LPG production is going to increase. Economy will get a boost at low cost," he said.