The world would find itself short of oil from 2025 onwards as exploration for longer-producing crude reserves is set to lag demand growth, Vicki Hollub, chief executive of Occidental Petroleum, said at the Davos forum on Tuesday. For most of the second half of the 20th century, oil companies were finding more crude than global consumption, around five times the demand volumes, Hollub said, as carried by Reuters. The ratio of discovered resources versus demand has dropped in recent decades and is now at around 25%. “In the…
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