EPA: Oil Reserves Surpass 36bn barrels

The U.S. Energy Information Administration (EIA) in December reported that U.S. crude oil and lease condensate proved reserves rose for the fifth consecutive year in 2013, increasing by 9% from the 2012 level to 36.5 billion barrels. According to the “U.S. Crude Oil and Natural Gas Proved Reserves, 2013” report,…

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