Oil Resource Management

Oil resource management involves planning and overseeing the extraction, use, and conservation of oil to ensure it meets current needs without compromising future availability. It includes efficiently exploring for new reserves, optimizing extraction techniques, maintaining environmental standards, and developing policies for equitable distribution. The goal is to balance economic growth with environmental sustainability, prevent resource depletion, and adapt to changing market demands. Effective management helps maximize the economic benefits of oil while minimizing environmental impact and ensuring long-term energy security.