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, 2019See also: Oil - production map
OPEC+ plans to pump more crude into a precarious global oil market
World Oil - 7/31/2020 12:57:00 PM
In Asia, countries that successfully suppressed the first wave of infections, such as Hong Kong, are struggling to contain new outbreaks. All of which is keeping inventories bloated. The world’s largest independent oil storage company, Rotterdam-based ...
After brutal slide in state’s upstream sector, Texas Alliance looks toward market bottoming out
World Oil - 7/31/2020 12:25:00 AM
The TPI is a cyclical measure of the health and vitality of the Texas upstream oil ... production continues to decline—that prices will respond accordingly.” Asked by one media member whether he thinks the second Covid-19 wave afflicting much of the ...
Weak oil futures driving pressure on Saudis to cut prices
World Oil - 7/30/2020 12:16:00 PM
SINGAPORE (Bloomberg) --For the first time since the oil price ... While Asia led the world in the demand rebound, crude and product stockpiles remain stubbornly high and the pandemic is still surging or staging a comeback in many countries.
July ends with an oil price gain as OPEC+ plans to increase supply
World Oil - 7/31/2020 12:33:00 PM
Oil is set to end July with a gain in New York ahead of OPEC+ plans to return supply to the market after the group’s historic output cuts, while the coronavirus pandemic continued to spread across many major economies.
World Bank: Global gas flaring at its highest since 2009
World Oil - 7/21/2020 3:27:00 PM
According to World Bank research. gas flaring results in more than 400 million tons of CO2 equivalent emissions every year and wastes a valuable resource, with harmful impacts to the environment from un-combusted methane and black carbon emissions.
The Middle Eastern Influence On The World Oil Market
Hellenic Shipping News Worldwide - 7/27/2020 3:33:00 PM
For decades, Saudi Arabia has been at the center of the global oil market, both as part of OPEC and as an individual country. Others have argued that Saudi Arabia has played the role of a swing producer,
Fugro completes Phase 1 of site investigation contract for Qatargas North Field
World Oil - 7/21/2020 1:15:00 PM
Gerard Ferreira, Fugro’s Director for Marine Geophysics in the Middle East, said: “Continuing from previous projects for Qatargas’ North Field Production, this latest project benefits from more efficient processing and in-country mobilization of ...
Brent hits four-month high on EU coronavirus stimulus agreement
World Oil - 7/21/2020 11:33:00 AM
OPEC+ has since resolved its differences, and is now implementing vast production cuts to help markets rebalance. “The pace of oil-price improvement in the ... according to figures from the country’s emergency management department.
Russia considers oil price hedges modeled on Mexico’s system
World Oil - 7/22/2020 3:49:00 PM
Russian President Vladimir Putin ordered his government to consider hedging Russia’s massive oil and gas export revenues to protect the country from drops in prices, Interfax reported Wednesday.
Eni seeks to sell assets in Norway, Congo
World Oil - 7/21/2020 7:40:00 PM
Eni SpA is looking to sell assets in Norway and the Republic of Congo as oil’s slump prompts companies across the industry to rein in spending, according to people with knowledge of the matter.