World Oil Reserves Grow, But Only Just – BP

The amount of recoverable oil known to be in the ground at the end of 2005 was higher than a year earlier, BP said in its Statistical Review of World Energy, continuing the trend that the oil industry each year finds more oil than it produces…

While BP said its data, compiled from official figures from governments, should ease such concerns, the figures also show that it is becoming harder to add new reserves.

The rate at which oil reserves are growing has slowed in recent years. Reserves grew by only 0.55 percent in 2005, compared to an average 3 percent per year in 1985-1995.
Reuters UK