Rest of world includes associated companies’ reserves with unspecified geographies. Annual reports of 67 publicly traded oil companies indicated that their aggregate proved liquids reserves declined in 2016 for the second consecutive year. The decline in proved reserves was heavily concentrated in a few companies that reduced their estimated reserves from Canadian oil sands projects. Downward revisions of existing resources , relatively low extensions and discoveries , and relatively high production also contributed to a decline in proved reserves. Source: U.S. Energy Information Administration, based on Evaluate Energy. Note: Rest of world includes associated companies’ reserves with unspecified geographies. The 67 oil companies included in this analysis are listed on U.S. stock exchanges and consequently are required to report their proved reserves annually to the U.S. Securities and Exchange Commission (SEC). Collectively, their global crude oil and other liquids […]