Even the paper of record for the oil industry, Oil & Gas Journal , got it wrong. With the release of the latest BP Statistical Review of World Energy , media outlets appeared to be taking dictation rather than asking questions about which countries produced the most oil in 2014. If they had asked questions, they would have ended up with a ho-hum headline announcing that last year Russia at 10.1 million barrels per day (mbpd) and Saudi Arabia at 9.7 mbpd were once again the number one and number two producers of crude oil including lease condensate ( which is the definition of oil ). The United States at 8.7 mbpd remained in third place. The most important question they could have asked is this: How is BP defining oil? It turns out that oil according to the BP definition includes something called natural gas liquids which includes […]