OPEC members are limited to sales based on % their reserves - therefore everyone has motivation to exaggerate . With that in mind, they are all ( OPEC countries) probably lying about how much oil they have.
I watched a movie about Crude last year, sorry I can't remember the title but I think it had Crude in the title. Anyway, they mentioned how when OPEC revised how much oil can be sold based on % of reserves, that all major countries suddenly had drastically more reserves overnight.
Obviously, it's all a sham. And obviously, everyone is paid off and doesn't care.
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