29 Aug, 23

What’s Wrong With Rystad Energy’s Global Oil Reserve Estimate?

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Rystad Energy in a June 29th press release reported that its most recent assessment of the true size of the world’s proved oil reserves stands at 285 billion barrels, a value only one-sixth of the widely accepted value of around 1700 billion barrels. Insiders have long known of this extraordinary discrepancy, but it may come as a surprise to many. The widely accepted global proved oil reserves are those published by organisations such as the US EIA, OPEC, Oil and Gas Journal, World Oil and BP’s Statistical Review…

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