Rising U.S.–Iran tensions, and new U.S. maritime guidance are pushing oil higher as traders reassess geopolitical risk. Are Oil Majors Running Out of Reserves? - Shell’s disappointing 2025 results continue to create ripples across oil markets as the London-based energy major now only wields proven reserves of 8.1 billion barrels of oil equivalent, less than 8 years of its current production. - Shell is now facing a 200,000 boe/d production gap by 2030, despite its corporate policy pledging to grow to ...