Economy 52,861 Posted May 13, 2016 Share Posted May 13, 2016 http://oilprice.com/Energy/Energy-General/Proved-Oil-Reserves-Lost-840-Billion-In-Value11014.html Although official estimates are not updated every year as prices fluctuate regularly. An institution has calculated that since the price crash 875 Billion barrels of Proven Oil Reserves were lost globally "Proven Reserves" are the portion of reserves that are believed to be Technologically AND Economically extractible. Given that oil has been below $50/barrel consistantly... About half of the worlds 1.7 Trillion barrels of currently proven reserves that are currently registered are actually no longer economical making them no longer "Proven Reserves" Link to post Share on other sites More sharing options...
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