Caspian Energy Journal Caspian European Club
Friday, 30 November 2018 17:00

U.S. crude oil and gas reserves set new records

U.S. crude oil and gas reserves set new records

High prices and continued development of shale and tight resources drove proved reserves of both U.S. crude oil and natural gas to new records in 2017, Caspian Energy News ( reports with reference to EIA’s recently released U.S. Crude Oil and Natural Gas Proved Reserves report.

According to the report, proved reserves of U.S. crude oil increased 19.5% from the end of 2016, reaching 39.2 billion barrels and surpassing the previous peak level of 39.0 billion barrels set in 1970. Proved reserves of natural gas increased 36.1% from the end of 2016 to reach 464.3 trillion cubic feet (Tcf) in 2017, surpassing the previous record of 388.8 Tcf set in 2014.

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Person in charge of the newsline: Olga Nagiyeva 


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