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Saudi oil reserve hits 268.5bn barrels in 2018

Saudi oil reserve hits 268.5bn barrels in 2018

Riyadh – Mubasher: Saudi Arabian oil and gas reserves went up during 2018, according to the Saudi Press Agency (SPA).

Saudi oil reserve increased to 268.5 billion barrels in the previous year, compared to 266.3 billion a year earlier.

Moreover, gas reserve levelled up to 325.1 trillion standard cubic feet (SCF) in 2018 from 307.9 trillion SCF in 2017, SPA reported.

"This certification underscores why every barrel we produce is the most profitable in the world,” the kingdom’s energy minister Khalid Al-Falih said.