In the petroleum industry, proved reserves are

A) evidence that uncertainty is not a problem in the industry.
B) inevitably growing smaller over time.
C) the same thing as the current supply of petroleum.
D) resources recoverable at current prices and technology.

Proved Reserves

Quantities of natural resources, like oil or gas, that geological and engineering information indicates with reasonable certainty can be recovered in the future from known reservoirs under existing economic and operating conditions.

Petroleum Industry

A global sector involved in the exploration, extraction, refinement, transportation, and marketing of petroleum products.

Current Prices

Prices at which goods and services are sold in the market at the present time, not adjusted for inflation.