Due to its large deposits of shale oil, the United States has more recoverable oil available than either Russia or Saudi Arabia, according to Reuters. The information comes from a new report by Norwegian consulting group Rystad Energy.
The study contends that the US currently holds an estimated 264 billion of barrels of reserves in existing fields, discoveries and yet to be discovered fields.
That’s eight billion more barrels than Russia has, and over 50 billion more barrels than the Saudis.
Texas alone holding more than 60 billion barrels of shale oil.
Globally, there are over 2,000 barrels of recoverable oil reserves.
