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, 2020
See also: Oil - production mapRelated News
OPEC+ has excuse to pause oil production increases after COVID variant sparks crude plunge
MarketWatch on MSN.com - 11/27/2021 3:53:00 PM
A plunge in crude-oil futures sparked by the discovery of a new COVID variant raises the probability OPEC+ will pause production increases next week.
Why are the world’s biggest oil-producing countries selling green bonds?
Quartz - 11/23/2021 2:32:00 PM
Taking green bonds at face value is tricky when the entities issuing them—the governments, wealth funds and state-owned companies of oil-producing countries—are still stoking climate change with fossil fuels.
Iran eyes boosting oil production capacity to pre-sanction level by next March
Tehran Times - 11/28/2021 5:31:00 AM
Mohsen Khojasteh-Mehr has said his company is planning to boost the country’s oil production capacity to the pre-sanction levels or four million barrels by the end of the current Iranian calendar year (March 20,
US, 5 Other Countries to Tap Oil Reserves to Ease Consumer Costs
Voice of America - 11/23/2021 12:21:00 PM
The United States and five other countries said Tuesday they plan to tap their strategic oil reserves for refining into gasoline and other energy products in a coordinated effort to cut rising costs that their consumers are paying.
OPEC says SPR releases may worsen coming global oil surplus
World Oil - 11/25/2021 11:49:00 AM
OPEC expects that oil stockpiles released by consuming nations could massively swell the surplus in global markets.
Oil plunges by the most since April 2020 after new Covid variant heightens fears over global demand outlook
Business Insider on MSN.com - 11/26/2021 4:19:59 PM
Brent and WTI fell by more than 10%, given the expectation for a surplus of unused fuel to weigh on prices in the coming few months.
Biden to announce multinational oil reserve release as soon as Tuesday
World Oil - 11/22/2021 8:01:00 PM
President Joe Biden is preparing to announce a release of oil from the nation’s Strategic Petroleum Reserve in concert with several other countries as soon as Tuesday, according to people familiar with the plan.
U.S. EIA projects declining crude oil prices during 2022
World Oil - 11/18/2021 2:49:00 PM
Short-Term Energy Outlook, the U.S. Energy Information Administration forecasts that rising production from OPEC+ countries and the United States will lead to global liquid fuels inventories increasing and crude oil prices falling in 2022.
OPEC considers lowering production to account for oil reserve releases
World Oil - 11/22/2021 4:21:00 PM
OPEC and its allies may re-evaluate plans for reviving oil supplies if the world’s four largest consuming countries go ahead with a coordinated release of their strategic petroleum reserves.
