According to a new report, the total reserves of oil and gas in the US has risen by an impressive 35 per cent in the US in 2013 compared to 2011.

The new report by the Energy Information Administration, which is a research unit of the Energy Department, showed that the reserves have increased significantly in the previous two years. The increasing stockpiles in the US and rising U. S. shale oil production is expected to put pressure on the oil prices in the country.

The domestic reserves have risen to 223 billion barrels of oil equivalents including reserves found in shale formations. The US is increasing using new production methods such as horizontal drilling and hydraulic fracturing and this has allowed the country to extract oil and gas trapped under geological formations that was not recoverable before in an economic manner.

The US is not only second to Russia in the amount of technically recoverable barrels of shale oil at 58 billion and fourth among the countries with reserves of technically recoverable shale gas reserves, with 665 trillion cubic feet. Data showed that China has the largest shale gas reserves at 1,115 trillion cubic feet.

"Today's report indicates a significant potential for international shale oil and shale gas, though the extent to which technically recoverable shale resources will prove to be economically recoverable is not yet clear," EIA Administrator Adam Sieminski said.