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The Oil Company Investors Fear Most

OilPrice.com Tuesday, 18 June 2019
Last week saw another upwards revision in Saudi Arabia’s proved oil reserves, this time via BP (although the figures came from Saudi’s state hydrocarbons behemoth, Saudi Aramco), putting them 11% higher than previously thought at 297.7 billion barrels of proved crude and natural gas liquids as of end-2018. BP’s rationale for increasing the reserve numbers some 30 billion barrels higher than year-ago levels was that it reflects ‘new detail from state-oil giant Saudi Aramco on the classification of its natural gas liquids,…
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