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Commodities Briefing - Categorized | Oil, Resources more

Does OPEC really have 80 pct of the world’s oil? Maybe not.

Posted on 17 September 2012

OPEC’s oil reserves haven’t been independently verified, but there’s evidence they’ve inflated the numbers. Here’s why it matters. Has OPEC misled us about the size of its oil reserves? The short answer is probably. The long answer is that currently, there is no way to know for sure.
The next question we should ask is: Does it matter? The answer is most definitely yes. OPEC, short for the Organization of Petroleum Exporting Countries, currently claims that its 12 members hold 81.3 percent of the world’s oil reserves………………………………………..Full Article: Source


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VRS - who has written 37015 posts on Opalesque Commodities Briefing.


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