United States Now Holds More Oil Reserves Than Saudi Arabia
July 04, 2016
By Per Magnus Nysveen, Head of Analysis, Rystad Energy
A new independent estimate of world oil reserves has been released by Rystad Energy, showing that the US now holds more recoverable oil reserves than both Saudi Arabia and Russia. For US, more than 50% of remaining oil reserves is unconventional shale oil. Texas alone holds more than 60 billion barrels of shale oil according to this new data.