26 Nov '16, 12pm

via PEAK OIL: Oil Reserves Increasing, Gas Reserves In Decline

The annual statistics report on world reserves, production and consumption of oil and gas showed that oil output set another yearly record growth (+2.9 percent), driven by the Middle East and North America. Among the top ten producers, Iraq showed the biggest rise and the USA, the largest producer, kept growing for the seventh year in a row. Geopolitics still affect the production of Libya, Syria and Yemen, the report stated.

Full article: http://peakoil.com/geology/oil-reserves-increasing-gas-re...

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