Oil Reserves by Country and How Long It Will Last: Infographic

Oil prices continue to remain high adding to more pain for consumers. High oil prices are one factor that is driving inflation. After the dramatic plunge in demand during the Covid era oil prices soared in the past two years leading to the energy sector having the best returns in the S&P 500. Top oil producing continues have an incentive to keep the prices high. Unlike other industries the OPEC cartel is legal and continues to “adjust” supply as needed. Recently I came across an infographic that shows the countries with the largest oil reserves and an estimate on how long the reserves will last. According to this estimate by Sputnik, at the current rate of production the reserves will last a mere 9.5 years.

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