According to a new report from Rystad Energy, the US has more untapped oil than any other country in the world, even more than Russia or Saudi Arabia. We might be sitting on 265 billion barrels of oil reserves, including existing oil field, recent discoveries, and assessments of undiscovered fields.
According to Rystad, more than half of untapped oil in the US is unconventional shale oil, which reshaped the global energy landscape. Only Texas holds more than 60 billion barrels of shale oil, and that’s more than the untapped oil in China.
Jarand Rystad, CEO of Rystad Energy said to CNNMoney: "This has been a revolution. Ten years ago nobody would have dreamt this would have been the result." Besides the US, other countries with most oil reserves are Russia (256 billion barrels), Saudi Arabia (212 billion barrels), Canada (167 billion barrels) and Iran (120 billion barrels).
Rystad Energy, an independent research company, based in Norway, estimates that the world has approximately 2.1 trillion barrels of untapped oil, which is 70 times more than the current global annual production rate. The oil demand continues to grow, and experts believe that the growth will remain the same or even accelerates in today’s fast-growing economies such as China and India.
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Gildshire Editor, Elvira Barucija