Published by Mark Smith-HalvorsenOil-linked currencies such as the Canadian dollar and the Saudi riyal may suffer in the wake of a new report which claims global crude reserves are overestimated by one-third.The new paper, drawn up by researchers and scientists from Oxford University headed by former chief government adviser Sir David King, predicts oil price spikes and global shortages within the next few years.The group's warning is based on findings that members of the Organisation of Petroleum Exporting Countries talked up their total reserves during the 1980s to attract development.Saudi Arabia, the world's largest oil producer, has never allowed independent assayers into the country to estimate its total reserves.Canada, which has the world's second largest reserves, may feel the impact of the report in a round of currency risk management that brings the loonie lower.The researchers were also critical of the inclusion of non-conventional oil reserves such as Canada's vast tar sands in estimates for total recoverable crude.For more information on foreign exchange treasury services visit our Corporate FX site