Oil Discoveries at 70-Year Low Signal Supply Shortfall Ahead

  • New finds at lowest since 1947 and headed even lower: WoodMac
  • Explorers replacing just 6% of resources they drill: Rystad

Oil Discoveries at Lowest Level Since 1947

Explorers in 2015 discovered only about a tenth as much oil as they have annually on average since 1960. This year, they’ll probably find even less, spurring new fears about their ability to meet future demand.

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