Assessment of global conventional oil reserves growth from United States Geological Survey

Based on published reports of oil reserve growth from the United States Geological Survey(USGS),combined with extensive literatures study,it is confirmed that USGS is the most authoritative global reserve growth assessment agency,however,its reserve growth models have some flaws such as exaggerated reserves,and USGS proposed a new model Individual Accumulation Analysis to make up for the deficiency to some extent.According to the new model,Global conventional oil reserve growth is approximately 7230 barrels based on the study of 1814 oil fields which in-place reserves is above 5 billion barrels and 55 oil fields of U.S.