U.S. crude oil reserves increased 4.5 billion barrels to 33.4 billion, the highest level since 1976 and the biggest annual gain since 1970, the Energy Information Administration said today in its annual U.S. Crude Oil and Natural Gas Proved Reserves report. Close Close Open Photographer: Ty Wright/Bloomberg U.S. crude oil reserves increased 4.5 billion barrels to 33.4 billion, the highest level since 1976 and the biggest annual gain since 1970, the Energy Information Administration said today in its annual U.S. Crude Oil and Natural Gas Proved Reserves report. U.S. proved reserves of crude oil and lease condensate reached the highest level in 36 years as new technology and high prices made supplies locked in shale formations available. Reserves increased 4.5 billion barrels to 33.4 billion in 2012, the most since 1976 and the biggest annual gain since 1970, the Energy Information Administration said today in its […]