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There's an estimated 1.2 pics of fatties trillion barrels of liquid crude pics of fatties oil in the world – about 40 years reserves at the rate they are currently being used (80 million barrels per day). Of this, about one-quarter lies under the deserts of Saudi Arabia. Iraq's reserves could be larger, but no one really knows and the Saudi reserves are well explored. Most forecasts expect that demand to rise by 50 percent to 120 million barrels per day by 2020, though anyone who works with statistical data will tell you that forecasts more than pics of fatties a year or two out are, at best, simple guesswork. In the 150 years human being have drilled for and refined petroleum, it's estimated we've used about 1 trillion barrels. However, As Nymex and Brent prices were bid up past the $50 mark last autumn, producers were pumping about 1 million barrels per day more than consumers were using, though it is clear that some of that "surplus" can be accounted for by undocumented use in China and Russia.
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