Press Esc to close

WorldOil

CONTENT PREVIEW

For full content view: Log in Now!

  • International: World oil production


    Slowing economic performance in the U.S., coupled with terrorist concerns and subsequent weakening of financial markets in other countries, contributed to slackening oil demand and a resultant drop in global oil production. Estimated worldwide crude and condensate output declined 1.4% in 2001, to 67.408 million bpd. As a consequence, global oil prices fell from their loftier heights of $26 to $30/bbl, to a level of $18 to $22/bbl. The relatively quick, noticeably steep drop in prices prompted OPEC to react with multiple cuts in production quotas. The latest quota reduction agreement that began at the first of this year cuts output by 1.5 million bopd, in concert with five non-OPEC nations (Russia, Norway, Mexico, Oman and Angola).

This area of the site is restricted. In order to gain access, please either Log In, or subscribe to World Oil.

Two options are available to you for creating an account.

1. Get a Free Trial Subscription to World Oil Magazine and gain immediate access to select content on World Oil Online.

Start a Free Trial Subscription and gain immediate access to the complete current issue of World Oil Magazine. Plus, you’ll receive 3 upcoming issues of World Oil Magazine in print or digital format.* You also receive access to the Energy Events Calendar, Industry Statistics and WO Wire’s news and industry coverage.

Free Trial


2. Purchase a subscription to World Oil magazine and gain immediate and complete access to World Oil Online. As a Total Access subscriber you will have access to all areas of the site available to registered users and free subscribers as well as having access to such premium content areas as:

  • The Archives section containing over ten years of complete magazine archives,
  • The WO DataHub's engineering tables and directories,
  • The World Oil annual forecasts, including past predictions,
  • Select World Oil technical handbooks,
  • And much, much more!

Subscribe


Physical copies of this content may be available for purchase. Visit the Reprints & Back Issues section.


If you are already a paid subscriber and do not have access, please email CustomerService@worldoil.com.

WO DATA HUB

EngineeringTablesIcon-Large

Engineering Data Tables

World Oil's specialized upstream Engineering Data Tables featuring the Drill Bit Classifier, Tubing Tables and more. Get Total Access today.

WO SUPPLEMENTS

2013 Fracturing Technology

2013 Fracturing Technology

ENERGY EVENTS