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
Non-OPEC producers might not be scared enough to cut oil output
CNBC - 12/8/2016 3:51:55 PM
The Organization of the Petroleum Exporting Countries played hardball with ... annual average price); World Bank World Development Indicators (GDP in current US dollars); value of oil production calculated as annual oil production times average oil price ...
Iran Races to Clinch Oil Deals Before Donald Trump Takes Office
New York Times - 12/8/2016 10:01:09 AM
Just as important, the agreements provide a lifeline to the rest of the world, experts say, critical to keeping dollars flowing and in cementing relations with European and Asian countries ... to rebuild its oil exports. Growing production has allowed ...
Saudi Arabia switches OPEC tack with eye on world’s top IPO, but it’s still far from ‘break even’
Financial Post - 12/6/2016 11:36:35 AM
By promising to cut production by just 4.7 percent, the country gained an 18 percent jump in oil prices. The pain of prices below $50 had become too much for the Arab world’s largest economy. Saddled with budget deficits, the country cut spending and ...
OPEC agrees to cut production, oil rises 8 percent
worldbulletin.net - 12/7/2016 9:58:10 PM
This is the first production cut by the organization in eight ... The deal also includes non-OPEC countries, like the world's biggest crude oil producer Russia. Non-OPEC countries will also cut their oil output by an additional 600,000 bpd, while 300,000 ...
Poll: OPEC deal will pack little punch in raising oil prices
Reuters - 12/8/2016 5:57:46 AM
If all members of the Organization of the Petroleum Exporting Countries honor ... inventories and not high oil prices, which would instead unleash a sharp production response both in the U.S. and in the rest of the world," U.S. investment bank Goldman ...
OPEC Production Cuts Reflected In EIA Forecast; HGL Production Grows Through 2017 – Analysis
Eurasia Review - 12/8/2016 6:40:43 AM
All of this points to inventory rebalancing changes that offer support to crude oil prices. At the November 30 OPEC meeting, member countries agreed ... and other liquids production is up in 2017 compared with 2016, with total world production increasing ...
Russia says OPEC, non-OPEC countries to discuss oil cuts
The Hindu Business Line - 12/6/2016 5:34:30 PM
“As reality bites in a world awash with oil, producing countries will have to show some meaningful backbone on compliance, for probably the first time ever, to achieve the meaningful rally in oil prices that they so desire.”
Oil dips as OPEC, Russian output rises ahead of production cut
hellenicshippingnews.com - 12/6/2016 1:09:38 PM
As part of the deal, OPEC said major oil producers not part of the group had agreed to cut a further 600,000 bpd of production. These countries and OPEC are due ... is not over – especially in Asia, the world’s biggest consumer region – Saudi Aramco ...
Russian oil companies back Energy Ministry proposal on limiting oil production - minister
Canal CNC Arauca - 12/8/2016 8:49:34 AM
individual country quotas have been allocated to all members, an independent production monitoring committee has been established, and it appears the world's largest crude oil producer Russian Federation has committed to join the cut". Gazprom's realized ...
OPEC move to cut production may adversely affect India
madhyamam.com - 12/8/2016 11:48:32 AM
Part of the process is also privatisation to a limited extent of Aramco, the world's biggest oil company that ... more interesting to see how the countries (especially producers) outside the OPEC respond to this curb on production levels.
2016 Mexico oil hedge $2.65 billion
theamericanenergynews.com - 12/8/2016 6:00:45 PM
the country’s Finance Ministry said on Wednesday, in what is considered to be the world’s biggest sovereign derivatives trade. Mexico, an oil-producing country, hedges its crude every year and deals are closely watched by the market since the trades ...
Oil-Output Cuts Could Hit Russian Energy Companies
The Wall Street Journal - 12/6/2016 4:22:55 PM
MOSCOW—The Russian government is committed to cutting oil production in line with world producers but now comes the hard ... Russia, which pumps more crude oil than any other country, has had a spotty record with implementing production cuts in the ...
The World's Top Oil Market Is Starting to Lose Its Sheen
bloomberg.com - 12/8/2016 3:59:04 PM
Asia’s biggest buyer also seen reining in private refiners One of the biggest engines soaking up the world’s oil is starting to sputter ... from the combined total of net imports and domestic production on a monthly basis to arrive at a surplus ...
OPEC production cut to spare Iraqi budget US$14 bn: PM adviser
iraqinews.com - 12/7/2016 7:46:20 AM
The decision by the Organization of the Petroleum Exporting Countries to cut production from January ... deal on production cut. World petroleum rates had fallen down by more than 60 percent since 2014, to the dismay of oil-reliant economies, including ...