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WORLD: Global recoverable oil reserves hold steady at 1,536 billion barrels; insufficient to meet demand without swift electrification
July 29, 2024
Rystad Energy’s latest research shows global recoverable oil reserves held largely steady at around 1,500 billion barrels, down some 52 billion barrels from our 2023 analysis. Of this year-over-year decrease, 30 billion barrels are due to one year of production, and 22 billion barrels are mostly due to downward adjustments of contingent resources in discoveries. […]
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