KUWAIT HAS THE NINTH-LARGEST OIL RESERVES IN WORLD

  • 04/07/2022

Kuwait City: According to data released by Rystad Energy, an energy research firm, Kuwait ranks tenth in the world in terms of recoverable oil reserves. The business stated that these reserves number 53 billion barrels, stressing that worldwide recoverable oil is currently down by 9% from last year, threatening global energy security. The corporation looked into the countries having the most recoverable deposits. 


According to the report on extractable oil resources, Saudi Arabia has the largest 5 reserves, with 275 billion barrels, followed by the United States with 193 billion barrels, Russia in third place with 137 billion barrels, and Canada in fourth place with 118 billion barrels, Iraq in fifth place with 105 billion barrels, Iran and Brazil in sixth and seventh places with 84 billion barrels and 71 billion barrels, respectively, and the UAE in eighth place with 71 billion barrels. 

Following the publication of BP's annual statistics review, the company produced its own analysis of the global energy environment to give an unbiased, data-driven comparison and assessment, according to the sources. The 2022 Rystad Energy Review, which continues the trend of recent years, shows a severe drop in recoverable oil resources, which might deliver a huge blow to world energy security. According to its data analysis, the entire world oil that can be produced at the moment is predicted to be 1.572 billion barrels, a fall of over 9% from last year and 152 billion barrels less than the total for 2021.

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