m.) 9,423: Crude oil production * (1,000 b/d) 9,808.2: Marketed production of natural gas (million cu. We have provided a few examples below that you can copy and paste to your site: Your data export is now complete. Saudi Arabia will make additional, voluntary oil production cuts of one million barrels per day in February and March as part of a wider OPEC+ deal to hold output steady. Starting next month, OPEC+ will allow an additional 350,000 barrels per day to join the markets, with another 350,000 coming in June and June and 450,000 barrels per … The Trading Economics Application Programming Interface (API) provides direct access to our data. Please check your download folder. Oil Production in Saudi Arabia Saudi Arabia produces 12,402,761 barrels per day of oil (as of 2016) ranking 2nd in the world. Organization of the Petroleum Exporting Countries, Saudi Arabia GDP Continues to Contract in Q1, Saudi Non-Oil Private Sector Grows the Most in 3 Months, Saudi Arabia Inflation Rate Eases to 9-Month Low, Fitch Revises Saudi Arabia Credit Outlook to Negative, Saudi Central Bank Rolls Out $13.3 Billion Stimulus, Gulf Stock Markets Mostly Higher on Oil Rally, Saudi Arabia Hikes Repo Rate to 1.5% After Fed Tightens, Moldova Inflation Rate Climbs to 8-Month High, Eurozone March Industrial Output Data Below Forecasts, Eurozone Set for Stronger Growth in 2021, 2022. The group approved the continuation of … Saudi Arabia Cutting Oil Production by 1 Million Barrels Per Day January 5, 2021 by Brian Wang Saudi Arabia’s plan to cut one million barrels a day … The statistic shows Saudi Arabia's oil production from 1998 to 2019. Saudi Arabia has cut oil and gas production following drone attacks on two major oil facilities run by state-owned company Aramco. The current level of Saudi Arabia crude oil production as of April 2021 is 8.15 million barrels per day. However, the country planned to reduce its production to about eight million barrels per … Energy Minister Prince Abdulaziz bin … Crude Oil Prices - 70 Year Historical Chart, Saudi Arabia Crude Oil Production - Interactive Chart. Please check your download folder. Saudi Arabia had an oil production volume of 12 million barrels per day in April 2020. In April 2015, the Saudi oil minister Ali Al-Naimi said that Saudi Arabia produced 12 million barrels per day in March that year, which was the highest figure based on records since the early 1980s. Saudi Arabia has usually kept more than 1.5 - 2 million barrels per day of spare capacity on hand for market management. The previous peak was in August 2013 at 10.2 million barrels per day. Saudi Arabia Crude Oil Production is at a current level of 9.064M, unchanged from 9.064M last month and down from 9.802M one year ago. Crude Oil Production in Saudi Arabia averaged 8171.58 BBL/D/1K from 1973 until 2021, reaching an all time high of 12007 BBL/D/1K in April of 2020 and a record low of 2340 BBL/D/1K in August of 1985. If you use our datasets on your site or blog, we ask that you provide attribution via a link back to this page. We have provided a few examples below that you can copy and paste to your site: Your image export is now complete. Saudi Arabia will unilaterally cut an extra 1 million barrels of oil production per day from June in a renewed effort to stabilize global energy markets. Ahmed Jadallah/Reuters Oil stocks soared on Tuesday after Saudi Arabia announced a voluntary production cut of an extra 1 million barrels per day throughout February and March. m.) 117,000.0: Refinery capacity (1,000 b/cd) 2,896.0: Output of petroleum products (1,000 b/d) 2,586.1: Oil demand (1,000 b/d) 3,199.1: Crude oil exports (1,000 b/d) 7,038.1 Saudi Arabia had been producing around 9.8 million barrels per day. Location: Qatif, Eastern Province, Saudi Arabia Operator: Saudi Aramco Oil Production: 800,000 barrels per day Crude Oil (500,000 Barrels from … Qatif Project and Abu Safah field. Backlinks from other websites are the lifeblood of our site and a primary source of new traffic. It allows API clients to download millions of rows of historical data, to query our real-time economic calendar, subscribe to updates and receive quotes for currencies, commodities, stocks and bonds. This means the Kingdom held production steady despite the global crisis as it pumped 8.988 million barrels a day in August. Direct access to our calendar releases and historical data. Saudi Arabia, the largest oil producer within OPEC and the world's largest oil exporter, historically has had the greatest spare capacity. Saudi Arabia’s state-run oil giant Saudi Aramco says it will increase its oil production to 12.3 million barrels a day in April, a record amount In 2019, the world's most important oil-producing country produced around 11.8 million barrels of oil daily. Saudi Arabia has told its national oil company Aramco to slash its crude oil production for June by an extra one million barrels per day (bpd), a Saudi energy ministry official said on Monday. Saudi Arabia increases oil output to record high. That amount was in line with an agreement among a number of oil producing nations, including Russia. This is a change of 0.00% from last month and -7.53% from one year ago. Proven crude oil reserves (million barrels) 258,600: Proven natural gas reserves (billion cu. The first production of oil began in 1963, the project hired Top companies for drill and refineries. Before the historic oil cuts agreed by major producers come into force in May, Saudi Arabia could sell around 600,000 barrels per day (bpd) of crude to its overseas ally the US, Bloomberg reported. Interactive chart showing the monthly level of Saudi Arabia crude oil production back to 1994 from the US Energy Information Adminstration (EIA). OPEC and the other oil-producing countries agreed to cut 10 million barrels a day — about 23 percent of their production levels — in May and June, they said in a statement on Friday. OPEC and its allies agree to deepen oil production cuts by a further 500,000 barrels per day Published Fri, Dec 6 2019 4:19 AM EST Updated Fri, … The daily volume sold by the kingdom to the US during April could be the highest for a year, the report said, citing a Saudi industry official familiar with allocations to American refiners. The minister also confirmed that Saudi Arabia could keep the voluntary oil production cut of 1 million bpd for a more extended period. The current level of Saudi Arabia crude oil production as of March 2021 is 8.15 million barrels per day. Saudi Arabia also said that it would extend its one million barrels per day voluntary production cut into April. Saudi Arabia to cut extra 1 mln barrels per day of oil production over OPEC agreement ... will be 7.492 million barrels per day,” he added. Saudi Arabia produces every year an amount equivalent to 1.7% of its total proven reserves (as of 2016). Related Charts Last week, oil prices plummeted after news came that Saudi Arabia was going to increase the supply of oil it contributes to the global market to an astounding 12.3 million barrels per day… Values shown are in millions of barrels produced per day. Download historical data for 20 million indicators using your browser. Trading Economics members can view, download and compare data from nearly 200 countries, including more than 20 million economic indicators, exchange rates, government bond yields, stock indexes and commodity prices. If you use our chart images on your site or blog, we ask that you provide attribution via a link back to this page. Saudi Arabia to cut oil output by another 1 million barrels a day The move will reduce the production of the world’s biggest crude exporter to 7.5 million barrels per day The Kingdom of Saudi Arabia pumped 8.974 million barrels of oil per day (bpd) in September, media reports said. 1973-2021 Data | 2022-2023 Forecast | Historical. Saudi Arabia, is the world’s largest oil exporter, accounting for 10 percent of global oil supply. Under this definition, total world oil production in 2020 averaged 76,124,800 … Values shown are in millions of barrels produced per day. 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