Proved oil reserves in the United States slipped 19% over the course of 2020, from 44.2 billion barrels to 35.8 billion barrels, according to fresh data from the Energy Information Administration (EIA). The new EIA data shows that throughout 2020, just 3 billion barrels of proved crude oil reserves were discovered in the United States, with 1.2 billion barrels gained through adjustments, sales, and acquisitions. 8.8 billion barrels of proved reserves were lost due to net revisions, and 3.8 billion barrels were used up through the production of crude oil. The net change, according to the EIA, is 8.4 billion barrels, for a total loss of 19%. Previous EIA data shows that this loss of 8.4 billion barrels is the largest loss of proven reserves since at least 2010. In fact, there is only one other year in the last decade where proved reserves in the United States saw […]