How many barrels of crude oil are produced every year?

Answer 1

Worldwide oil production was 85.64 millon barrels per day in the third quarter, 2008 and 85.69 million barrels per day in the second quarter, 2008. I can only give you an approximate estimate for worldwide oil production for the full year 2008 as the fourth quarter production is not yet available. It is likely to be down from the prior quarters. Based on average of 85 million barrels per day, worldwide production would be 30.7 billion barrels for the full year. Looking at data from 2004 to 2007, production has been in the range of 82.9 to 82.86 million barrels of oil per day (30.2 to 31.3 billion bbls/yr) For further information, please see: http://www.eia.doe.gov/oil_gas/petroleum/info_glance/petroleum.html and you can find a spreadsheet with both US and International production on the lower left hand side of this webpage.