3. Norway
Production (1,000 b/d): 1,567.4
Proven reserves (millions of barrels): 5,139
Years of production left at current level: 8 years
2015 import of crude oil (1,000 b/d): –
2015 import of petroleum products (1,000 b/d): –
The third place on our list of 10 countries that are running out of oil goes to Norway. The smallest country on the list exports 8 times more oil and natural gas than it consumes. Unlike the other countries, Norway is actively preparing for the day when their oil runs out, investing a large part of oil income into a fund colloquially known as The Oil Fund. The fund is the largest stock owner in Europe and currently, owns 1% of all global commodities.
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