This year has seen less than 7 billion barrels of oil equivalent discovered globally a volume as low as last seen in the 1940s Rystad Energy has estimated What worries analysts the most is the fact that this year the reserve replacement ratio the amount of discovered resources relative to the amount of production was a mere 11 percent compared to 50 percent in 2012 Sonia Mlad Passos Senior Analyst at Rystad Energy said 