Decline in world crude reserves is first since '92

Worldwide reserves of crude oil declined slightly while natural gas reserves rose in 1999. For oil, it was the first decline since 1992.Reserves of crude oil fell by 18.2 billion bbl during the year, and natural gas reserves were 1.5 tcf higher, according to Oil & Gas Journal estimates based on an annual survey of companies, government ministries, and other reporting entities.The world totals as of Jan. 1, 2000: 1.016 trillion bbl of crude oil and 5.15 quadrillion cu ft of gas.Average worldwide production of crude oil and lease condensate fell 2.4% from the 1998 level to 64.55 million b/d, according to OGJ's estimate.Tracking trendsThe individual country reserves totals are not as impo...

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