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What is production in oil and gas?

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What is production in oil and gas?

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  1. "Production" means actually bringing the oil or gas up out of the ground. If 85 million barrels of oil per day are produced, 85 million barrels are pumped out of wells each day. More oil than that may be available, and pumps may or may not be able to pump more up, but only the oil actually pumped up is counted as production.

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