The US retained its leadership in terms of recoverable oil reserves in 2017, increasing them by almost 50 billion barrels to 310 billion barrels, the Norwegian consulting company Rystad Energy reported. The growth of oil reserves in the US was provided by the increase in production almost 2 times by the fracking method at the largest in the country oil basin Permian. Their growth was also facilitated by new sites and formations, the geological reserves of which were proven. Current oil reserves in Texas alone are estimated at more than 100 billion barrels. Of the 1 trillion of undiscovered world oil reserves, shale oil accounts for about 300 billion barrels, as it was calculated at Rystad Energy. In non-OPEC countries, there are about 78% of the world's undiscovered reserves.
Oil firms but sets to acquire more gains on output reduction optimism13.02.2020
Oil maintains momentum as virus concerns may lead to deeper output cuts12.02.2020
Oil inches up as NcoV cases decelerate, boosts market sentiment11.02.2020
Oil advances but investors remain cautious over China virus