Oil reserves

US strategic oil reserves fell to 434.1 million barrels, the lowest level since 1984. This was reported by Reuters, citing the US Department of Energy.

According to its information, oil reserves have decreased by 8.4 million barrels in the last week alone.

Russia added the most oil and gas reserves during the past year while the United States overtook it as the top energy producer, oil company BP said on June 10 in its benchmark annual review of world energy.

Erdal Trhulj, Energy Minister in Bosnia's larger entity, told Balkan Insight on Thursday that he expects to finish the process of choosing a concessioner to conduct oil research by the end of this year - which means digs for oil could start as soon as 2015.