In its latest annual report of world recoverable oil resources, Rystad Energy finds that the United States currently holds 293 billion barrels of recoverable oil resources. This is 20 billion barrels more than Saudi Arabia and almost 100 billion barrels more than Russia. Rystad Energy’s estimate of US recoverable oil is also five times more than officially reported proven reserves as published in the BP Statistical Review of World Energy 2019. Tight oil plays in the Permian Basin in Texas and New Mexico now hold 100 billion barrels of recoverable oil resources, according to Rystad Energy’s analysis. Shale/tight resources in the Permian thus remain largely flat from the previous year, as production has been replaced through improvements in well configuration, largely driven by supermajors increasing their footprint in the Permian Midland Basin and by fine-tuning operations. “We also note that production has not been fully replaced by increased reserves […]