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Commodities Briefing - Categorized | Oil, Resources more

U.S. crude reserves hit highest levels in nearly 40 years

Posted on 14 April 2014

New data from the Energy Information Administration shows that crude reserves in the U.S. hit their highest levels since 1976. The EIA released a report on April 10, entitled “U.S. Crude Oil and Natural Gas Proved Reserves (2012),” which indicated that 2012 marked the fourth year in a row that proven oil reserves increased.
Not only that, but 2012 marked the largest increase in oil reserves for a single year – 4.5 billion barrels – since 1970. That is a remarkable feat since 1970 was the year that vast reserves, around 10 billion barrels, were booked in Alaska………………………………………..Full Article: Source


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