Oil reserves everywhere are dwindling; they have been ever since the first drop was produced.
Stated reserve estimates may increase (often enough for political reasons). That does not mean that the amount of oil present has increased – it has not. If an increase in reserves estimation is warranted (often it is probably not), it is because more oil has been found. That does not mean more has been created than was once there. It takes millions of years for oil source rocks to form and generate oil.
It’s probably impossible to say how much oil is left in the Middle East, as that’s highly sensitive information that Middle Eastern governments are less than willing to publicize. However, oil stocks around the world have been dwindling for years now -always have been, as there’s only so much oil in the ground. That’s why oil prices have been rising and we’ve increasingly been resorting to more extreme and dangerous measures to extract it, like deepwater drilling.
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