Oil reserves decreased 0.2 per cent in 2017: EniCreated: Monday, 30 July 2018 06:37World oil production remained nearly at the same level as of 2016. (Image source: Andrea/Flickr)In 2017, oil reserves decreased slightly (-0.2 per cent) mainly due to reduction in some OPEC countries, according to Eni’s 17th edition of the ‘World Oil, Gas and Renewables Review,’ the annual statistics report on oil, natural gas and renewables sourcesAccording to Eni, OPEC remains the biggest reserves holder (72 per cent of world’s total), in pole position still Venezuela, followed by Saudi Arabia and Canada. The first volume of the report, the ‘World Oil Review,’ is devoted to oil reserves, supply, demand, trade and prices with a special focus on crude oil quality and on refining industry. World oil production remained nearly at the same level as 2016 (+0.3 per cent). Global oil demand grew by 1.7 per cent, more than in 2016 (+1.2 per cent), after another year of low oil price.

Source: The North Africa Journal July 30, 2018 10:18 UTC