Although colloquially used as a term to indicate that the unemployment rate is substantially higher than normal, an economist will tell you that the technical definition reflects two straight calendar quarters of negative growth of real GDP. What is the term?

Oil is measured in barrels, which is equal to 42 US gallons or 159 liters.

Venezuela leads the world with 300.9 billion barrels of oil reserves – a 17.8 per cent share of global reserves.