The Biggest Oil Discoveries of 2019

Amidst all the talk revolving around finding newer sources of energy, the world is still making huge oil and gas discoveries. Since the shale boom, conventional oil discoveries have fallen steeply, and stands at its lowest in 70 years. There are still several amazing discoveries though, in the mysterious deep. In fact, 2019 has seen the discovery of 8 billion barrels of oil equivalent, compared to 10 billion barrels of oil equivalent in 2018.  What is disappointing though, is that our consumption rate is much higher than our current resource replacement rate. According to TradingBeasts, oil today accounts for as much as 43 percent of the world energy consumption.

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