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New oil discoveries hit lowest level in 20 years

In the first half of 2020, less new oil was found than in any half-year since the turn of the millennium, according to analyst firm Rystad.

Photo: Hasan Jamali/AP/Ritzau Scanpix

4.9 billion barrels of oil equivalent might seem like a lot.

But held up against previous years' global oil discoveries – what the figure covers – the amount found in the first half of 2020 is the lowest in the 21st century, writes analyst firm Rystad Energy.

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