Tables of statistics Caution The data given in the historic series may sometimes differ from those of the text due to the different statistic source and the different data processing methods used. 224 Oil economics and policies Table 1 - World crude oil prices, 1859-19981 Year Price Change Year Price Change Year Price Change (doll./bbl) doll.lbb1 % (doll.lbbl) doll.lbb1 % (doll.lbb1) doll.lbb1 % 1859 16.00 1909 0.70 0.0 -2.8 1959 1.92 -0.2 -7.7 1860 9.59 --6.4 -40.1 1910 0.61 --{).1 -12.9 1960 1.86 --{).1 ":'3.1 1861 0.49 -9.1 -94.9 1911 0.61 0.0 0.0 1961 1.80 --{).1 -3.2 1862 1.05 0.6 114.3 1912 0.74 0.1 21.3 1962 1.80 0.0 0.0 1863 3.15 2.1 200.0 1913 0.95 0.2 28.4 1963 1.80 0.0 0.0 1864 8.06 4.9 155.9 1914 0.81 --{).1 -14.7 1964 1.80 0.0 0.0 1865 6.59 -1.5 -18.2 1915 0.64 --{).2 -21.0 1965 1.80 0.0 0.0 1866 3.74 -2.9 -43.2 1916 1.10 0.5 71.9 1966 1.80 0.0 0.0 1867 2.41 -1.3 -35.6 1917 1.56 0.5 41.8 1967 1.80 0.0 0.0 1868 3.62 1.2 50.2 1918 1.98 0.4 26.9 1968 1.80 0.0 0.0 1869 5.64 2.0 55.8 1919 2.01 0.0 1.5 1969 1.80 0.0 0.0 1870 3.86 -1.8 -31.6 1920 3.07 1.1 52.7 1970 1.80 0.0 0.0 1871 4.34 0.5 12.4 1921 1.73 -1.3 -43.6 1971 2.13 0.3 18.3 1872 3.64 --{).7 -16.1 1922 1.61 --{).1 -6.9 1972 2.48 0.4 16.4 1873 1.83 -1.8 -49.7 1923 1.34 --{).3 -16.8 1973 2.81 0.3 13.3 1874 1.17 --{).7 -36.1 1924 1.43 0.1 6.7 1974 10.98 8.2 290.7 1875 1.35 0.2 15.4 1925 1.68 0.3 17.5 1975 10.71 --{).3 -2.5 1876 2.52 1.2 86.7 1926 1.88 0.2 11.9 1976 11.63 0.9 8.6 1877 2.38 --{).1 -5.6 1927 1.30 --{).6 -30.9 1977 12.57 0.9 8.1 1878 1.17 -1.2 -50.8 1928 1.17 --{).1 -10.0 1978 12.91 0.3 2.7 1879 0.86 --{).3 -26.5 1929 1.27 0.1 8.5 1979 29.82 16.9 131.0 1880 0.94 0.1 9.3 1930 1.19 --{).1 --6.3 1980 35.85 6.0 20.2 1881 0.92 0.0 -2.1 1931 0.65 --{).5 -45.4 1981 34.29 -1.6 -4.4 1882 0.78 --{).1 -15.2 1932 0.87 0.2 33.8 1982 31.76 -2.5 -7.4 1883 1.10 0.3 41.0 1933 0.67 -0.2 -23.0 1983 28.72 -3.0 -9.6 1884 0.85 --{).3 -22.7 1934 1.00 0.3 49.3 1984 28.08 --{).6 -2.2 1885 0.88 0.0 3.5 1935 0.97 0.0 -3.0 1985 27.52 --{).6 -2.0 1886 0.71 --{).2 -19.3 1936 1.09 0.1 12.4 1986 13.84 -13.7 -49.7 1887 0.67 0.0 -5.6 1937 1.18 0.1 8.3 1987 17.29 3.5 24.9 1888 0.65 0.0 -3.0 1938 1.13 --{).1 -4.2 1988 13.49 -3;8 -22.0 1889 0.77 0.1 18.5 1939 1.02 --{).1 -9.7 1989 16.34 2.9 21.1 1890 0.77 0.0 0.0 1940 1.02 0.0 0.0 1990 21.11 4.8 29.2 1891 0.56 --{).2 -27.3 1941 1.14 0.1 11.8 1991 17.38 -3.7 -17.7 1892 0.51 --{).l ..:.8.9 1942 1.19 0.1 4.4 1992 17.60 0.2 1.3 1893 0.60 0.1 17.6 1943 1.20 0.0 0.8 1993 15.20 -2.4 -13.6 1894 0.72 0.1 20.0 1944 1.21 0.0 0.8 1994 14.90 --{).3 -2.0 1895 1.09 0.4 51.4 1945 1.05 --{).2 -13.2 1995 16.32 1.4 9.5 1896 0.96 -0.1 -11.9 1946 1.20 0.2 14.3 1996 19.56 3.2 19.9 1897 0.68 -0.3 -29.2 1947 2.05 0.9 70.8 1997 18.77 --{).8 -4.0 1898 0.80 0.1 17.6 1948 1.99 --{).1 -2.9 1998 12.25 --6.5 -34.7 1899 1.13 0.3 41.3 1949 1.80 -0.2 -9.5 1900 1.19 0.1 5.3 1950 1.75 --{).1 -2.8 1901 0.96 -0.2 -19.3 1951 1.75 0.0 0.0 1902 0.80 -0.2 -16.7 1952 1.75 0.0 0.0 1903 0.94 0.1 17.5 1953 1.93 0.2 10.3 1904 0.86 --{).1 ..:.8.5 1954 1.93 0.0 0.0 1905 0.62 -0.2 -27.9 1955 1.93 0.0 0.0 1906 0.73 0.1 17.7 1956 1.93 0.0 0.0 1907 0.72 0.0 -1.4 1957 2.01 0.1 4.1 1908 0.72 0.0 0.0 1958 2.08 0.1 3.5 1. 1859-1944: United States market prices; 1945-1972: posted prices of Arabian Light; 1973-1984: official selling prices of Arabian Light; 1985-1998: spot prices of Arabian Light. Source: R.I.E. Database. Tables of statistics 225 Table 2 - Estimate of ultimate recoverable reserves of conventional oil in the world Year Author bill. bbl 1942 Pratt, Weeks & Stebinger 600 1946 Duke 400 1946 Pogue 555 1948 Weeks 610 1949 Levorsen 1,500 1949 Weeks 1,010 1953 Mac Naughton 1,000 1956 Hubbert 1,250 1958 Weeks 1,500 1959 Weeks 2,000 1965 Hendricks (USGS) 2,480 1967 Ryman (Esso) 2,090 1968 Shell 1,800 1968 Weeks 3,550 1969 Hubben 1,350-2,100 1970 L,G, Weeks (National Academy of Science) 2,200 1970 Moody (Mobil) 1,800 1971 Weeks 2,290 1971 Warman (BP) 1,200-2,000 1972 Moody & Emmerich (Mobil) 1,800-1,900 1972 Bauquis, Brasseur & Masseron (IFP) 1,950 1972 Weeks 3,560 1972 Linden (Inst, Gas Technology) 2,945 1973 Schweinfunh (USGS) 2,964 1974 Bonillas (Socal) 2,000 1974 Howitt (BP) 1,800 1975 Odell 3,575-4,233 1975 Moody (Mobil) 2,000 1975 Grossling (USGS) 2,600-6,500 1977 World Energy Conference «Consensus» 2,265 1977 Nelson (Socal) 2,000 1978 De Bruyne (Shell) 1,600 1978 KIemrne(Weeks) 1,750 1978 Nehring (Rand) 1,700-2,300 1979 Nehring (Rand) 1,600-2,000 1979 Halbouty & Moody 2,130 1979 Meyrhoff 2,190 1979 Roorda (Shell Oil) 2,400 1980 World Energy Conference 2,595 1981 Halbouty 2,275 1981 Strickland (Conoco) 2,071 1981 Colitti (Agip) 2,082 1982 Exxon 1,800-3,000 1982 Nehring (Rand) 2,400 1983 Masters & Root (USGS) Dietzman (AlE) 1,722 1984 Martin (BP) (al 2020) 1,685 1984 Ivanhoe 1,700 1984 Desprairies e altri (IFP) 2,050 1987 Masters (USGS) 1,744 1996 Co1ini-Simeoni (ENI) 1,690 1998 US Geological Survey 2,200 1998 Perrodon, Laherrere, Campbell 2,700 226 Oil economics and policies Table 3 - Estimated world proven crude oil reserves, 1936-1998 (bill. bbl) North Latin Western Eastern Middle Asia and World Year America I America Europe Europe 1 East Africa Oceania total OPECl 1936 10.6 1.4 n.d. 2.8 4.7 n.d. n.d. 22.0 1948 21.6 10.1 0.1 6.5 28.6 0.1 1.3 68.3 1949 23.8 10.9 0.2 4.6 32.6 0.1 1.4 73.6 1950 25.8 11.4 0.3 4.7 32.4 0.2 1.6 76.5 1951 26.5 11.5 0.4 8.0 41.6 0.2 1.8 89.9 1952 28.9 12.7 0.5 7.9 51.3 0.2 2.0 103.4 1953 29.7 11.9 0.5 9.4 64.8 0.2 2.1 118.6 1954 30.7 13.2 0.6 9.5 78.2 0.2 2.6 135.0 1955 31.8 14.4 1.0 10.0 97.5 0.1 2.7 157.5 1956 32.5 15.5 1.3 10.8 126.3 0.2 3.0 189.6 1957 33.2 17.5 1.3 25.0 144.5 0.3 6.1 228.0 1958 33.2 21.0 1.3 26.2 169.6 0.8 8.6 260.6 1959 33.7 21.8 1.4 27.7 174.0 4.1 9.6 272.3 1960 36.6 25.1 1.8 24.8 183.1 8.0 11.8 291.2 218.1 1961 36.8 24.7 1.8 24.7 188.1 9.6 11.6 297.3 223.6 1962 36.0 24.2 1.9 30.2 193.8 12.3 12.3 310.7 231.9 1963 36.6 24.3 2.3 33.2 207.0 16.3 12.6 332.4 248.0 1964 36.3 25.5 2.8 34.2 211.4 19.5 12.8 342.5 254.7 1965 38.9 25.2 2.6 36.2 214.8 23.2 13.0 353.8 260.4 1966 39.7 27.1 2.4 39.0 234.6 32.6 14.0 389.4 290.2 1967 40.2 26.9 2.8 36.9 248.5 42.4 14.0 411.6 310.4 1968 40.6 28.8 2.6 60.9 270.1 44.6 16.6 464.1 331.6 1969 38.4 29.2 2.4 61.0 332.8 48.4 15.7 528.0 391.6 1970 49.8 26.2 6.9 61.0 336.2 51.1 17.5 548.7 399.4 1971 46.5 30.5 9.6 58.8 346.4 54.6 28.8 575.2 411.0 1972 46.5 31.4 10.6 55.9 350.0 59.5 29.0 582.9 417.2 1973 44.7 29.5 17.5 52.3 350.0 61.6 31.7 587.2 419.3 1974 43.7 30.5 25.7 59.3 403.4 60.5 36.0 659.1 482.2 1975 39.8 36.1 25.6 61.9 387.1 59.1 38.6 648.1 463.1 1976 37.1 32.6 24.9 62.9 380.2 55.0 41.1 633.8 453.6 1977 35.5 40.2 27.6 62.0 376.8 53.7 40.4 636.2 447.9 1978 33.8 41.5 24.6 61.4 370.7 52.9 41.8 626.8 443.1 1979 36.6 57.1 24.1 62.9 362.7 53.2 39.0 635.6 435.6 1980 36.2 74.0 22.9 65.8 362.9 52.5 39.0 653.3 434.6 1981 36.7 84.3 22.5 65.7 365.2 56.4 39.3 670.1 438.3 1982 34.9 89.7 21.5 65.4 388.6 57.9 39.0 697.0 467.4 1983 34.3 90.8 22.1 65.3 397.1 57.3 38.7 705.5 475.3 1984 34.4 92.8 22.7 64.8 431.0 56.3 38.2 740.2 510.0 1985 33.9 118.6 22.2 64.4 431.9 56.2 38.5 765.7 535.8 1986 33.7 119.1 20.0 62.3 537.7 57.3 38.6 868.7 643.0 1987 34.1 121.7 17.4 60.6 567.8 57.1 39.2 897.7 674.0 1988 33.6 121.1 18.0 60.0 653.4 57.8 45.1 989.1 760.5 1989 33.3 120.6 17.0 59.8 663.3 58.8 47.5 1000.3 770.6 1990 32.7 122.2 17.0 58.8 662.0 59.9 48.3 1001.0 771.4 1991 30.8 125.1 17.1 58.7 662.9 62.5 48.5 1005.5 776.7 1992 29.0 129.8 17.7 59.1 663.4 63.9 44.4 1007.4 773.8 1993 31.0 130.9 18.0 59.1 663.3 63.6 43.8 1009.8 774.4 1994 31.6 131.3 19.9 59.1 665.8 68.5 43.3 1019.5 777.5 1995 31.7 131.6 21.1 59.1 665.1 75.5 44.2 1028.4 785.1 1996 31.3 138.8 18.7 59.1 676.0 75.4 43.5 1042.9 802.0 1997 31.2 140.2 18.1 59.2 676.8 75.5 43.5 1044.5 804.9 1998 32.0 152.7 18.7 59.0 672.0 81.3 44.3 1060.0 808.0 I.