Iran oil reserves will last only 155 years

 

Tuesday, April 24th, 2018

Oil Reserves

 

Iran's oil reserves will last 155 years, a recent report by World Bank indicates. 

Although Iran is one of the world's largest proven oil reserves of 158.7 billion barrels, the country's most important source of wealth will deplete in less than 155 years. 

The new World Bank report, "The Changing Wealth of Nations 2018", offers oil-rich developing countries oil reserves will last 21 years.

According to World Bank, depletion horizons of Venezuela is 275 years, Canada 130, Iraq 110, Saudi Arabia 80, and Algeria 40 years from now.

Source: World Bank report on "The Changing Wealth of Nations 2018"

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