[Peakoil] The Oil Market Problem No One Is Talking About -- Yet

[Antony Broughton Barry]

Quote: "In its latest market report, the IEA pointed out that the oil industry only discovered 4 billion barrels of new oil resources last year. While that might sound like plenty, it fell well short of the 36 billion barrels consumed by the global economy last year. It was also a record low for the industry and followed up a similarly poor showing in 2016 when the industry found the fewest barrels in 70 years. Driving the dearth of discoveries is the fact that oil producers have significantly cut exploration spending in recent years."

https://www.fool.com/investing/2018/03/25/the-oil-market-problem-no-one-is-talking-aboutyet.aspx

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