As mentioned above, oil production continued to grow rapidly in the ESCWA region, expanding by 6 per cent from its 2003 level and generating 19 billion barrels per day.

Oil production continued to expand rapidly in the ESCWA region, rising to 19 billion barrels per day, an increase of 6 per cent over its 2003 level.

By 2020, the daily demand for oil will be 120 million barrels.

How does that translate to barrels of oil equivalent?

From the photosynthetic growth, it would take 500 years of that growth to produce what we use, the 30 billion barrels we use per year.

Looking at 30 billion per year, we look at our two largest suppliers, Saudi Arabia and now Canada, with its dirty oil.

That is another 25 million barrels a day.

And they claim they have 250 billion barrels of oil, which I do not believe.

Brent crude oil futures closed up with 1.0 , reported 82.72 barrel.

One pain curer.

One pain curer.

On the top line, this is the BP oil spill billions of barrels of oil gushing in the Gulf of Mexico.

In Europe where taxes are in place, that's the equivalent to a minus 60 dollar barrel.

Oilmen spent the energy equivalent of 1 barrel of oil to find and extract 100.

Here is the problem at 147 dollars a barrel, which we were in six months ago, the U.S. spent a ton of money to get oil.

For every four barrels of oil that we consume, we only discover one.

Corporal, bring some of those cans over here.

In the nineteen sixties, six barrels of oil were found for every one that was used.

And then we do the OPEC stimulus package also known as 200 dollars a barrel.

The pipeline has a capacity of 10 million barrels.

Among which, 520 million tons of reserves are proved to be crude oil.

Without those drums, the boat must be lighter.

Get those barrels off the end of that ramp.

If you go forward the next 10 years and cap the price of oil at 100 dollars a barrel, you will pay 2.2 trillion.

Over the past seven years, the refinery has accumulated 1.1 billion in losses. The refinery currently operates at 400,000 barrels per day, 55 per cent of its capacity of 728,000 barrels per day.

As of the closing on September 28, the US WTI crude oil futures closed up with 1.13 US, reported 73.25 barrel.

Four decades later, the world consumes between three and six barrels of oil for every one that it finds.

He wants 50 liters. But I don't know where is the tank? We will find that out.

Of these fuels, oil is the most critical.

He's as slippery as a nail in a barrel full of oil.

So here we are using 20 million barrels a day producing eight, importing 12, and from the 12, five comes from OPEC.

And that costs on average under 18 dollars a barrel.

500 kilos of butter, 50 containers of lox.

I think it's probably 175 billion barrels.

Jeremiah will never know how close he came to 20 million barrels of oil.

Crude oil production will enjoy a considerable boom, rising in a short period from the current 7,000 barrels a day to 35,000 or 40,000 per day, which will provide the country with an enormous amount of income.

Then we lost our economy and we went back down to 47 sometimes it's 40, sometimes it's 50.

That price trend continued into the first quarter of 2005. The 2004 yearly average West Texas Intermediate (WTI) spot price was 41.51 per barrel and that of the OPEC reference basket was 36.05 per barrel.

More than 80 million barrels are produced (and consumed) daily, and a large part of that output is traded internationally. Thus, the sharp fall in the crude oil price from about 110 last year to around 60 today is yielding hundreds of billions of dollars in savings for oil importers.

Meanwhile, the price of London Brent crude futures for September 2016 ended the day up US 2.22 or 4.80 at US 48.47 pbl.

The Caspian fields alone have been reported as holding potential reserves approaching 200 billion barrels an amount almost as large as Saudi Arabia s total potential reserves.

Only that which needs to be integrated should be integrated, and asymmetrical models of integration may provide for deeper integration of some sectors than others.

Furthermore, the situation in the Gulf of Mexico is worsening. Oil is not leaking at the rate of 1,000 barrels per day, as BP originally estimated, nor up to 19,000 bpd, as calculated by the Flow Rate Technical Group. As a newly released BP internal document revealed, the actual flow is up to 100,000 bpd.

Empty fuel drums and men carrying siphon hoses add up to one thing.

2.2 to 2.4 million barrels of oil a day the same league as Kuwait, the same league as Venezuela.