Oil – it is very interesting!

This question is relevant not only to the professionals. The largest explored reserves are in oil fields of the Middle East. Two countries from the South America – Brazil and Venezuela – have been trying to take the first place lately. About 30 billion barrels of crude are consumed worldwide every year. If the consumption remains the same in the future, the discovered oil will be extracted in approximately 40 years. The resources and production by the countries are given below:

Proved reserves in 2007. (BP statistical review)

However, the scientists predict that the known hydrocarbon volumes will be doubled with new discoveries in extremely difficult accessible areas. Thus, it will take us a long time to explore it.