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World oil reserves up 8 pct, supply fears persist

Posted on 14 June 2012

The world’s store of oil jumped 8.3 percent last year, as exploration rose and record crude prices made marginal projects commercially viable, yet supplies will struggle to meet demand due to political factors, oil giant BP said on Wednesday.
BP said in its annual calculation of global oil and gas reserves, considered the industry’s most comprehensive, that oil reserves totalled 1,653 billion barrels at the end of 2011………………………………………..Full Article: Source


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