reserves
ri-ZERVZ
/rɪˈzɜːrvz/
A supply of a commodity not needed for immediate use but available if required; specifically, known quantities of oil or gas that can be profitably extracted.
In the energy industry, 'reserves' are not just what is in the ground, but what is known and economically viable to get out.
The story behind the word. From the Latin 'reservare', meaning 'to keep back' or 'save up'. It’s the same root as 'preserve'. It implies a sense of caution—keeping something for a rainy day.
Word relationships
- stockpile: A stockpile is usually a pile of goods already extracted; reserves are often still in the ground.
- store: Store is a general term for anything kept for later.
Commonly confused with
- resources: Resources include all potential minerals; reserves are only the ones that are technically and economically feasible to extract.
Word family
- reserve (verb): To keep back for future use.
- reservation (noun): The act of keeping something back.
Collocations
- proven reserves
- strategic reserves
- oil reserves
- foreign exchange reserves
Idioms & expressions
- in reserve
Example sentences
- "Saudi Arabia holds some of the world's largest proven oil reserves." Global Economics
- "The Strategic Petroleum Reserve was created to protect the nation against supply disruptions." Strategic Planning
Memory hook
You 'RE-SERVE' it for later. Keeping it in the back pocket.
When not to use
Don't confuse with 'resources'. Resources are everything that might be there; reserves are what we are sure we can get.
Fun facts
- The term 'proven reserves' is a legal and financial definition that can change the stock price of an oil company overnight.
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