According to current estimates, 79.4% of the world's proven oil reserves are located in OPEC Member Countries, with the bulk of OPEC oil reserves in the Middle East, amounting to 64.5% of the OPEC total. The holder of Africa’s largest proven oil reserves, Libya saw a disruption in oil production in 2011 due to conflict, but the country has recovered, and subsequently, has begun to increase supplies.

Oil reserves, billion barrels, 2019 - Country rankings: Definition: Proved reserves of crude oil are the estimated quantities of all liquids defined as crude oil,  9 Jan 2020 Around 99.3 million barrels of crude oil was used per day in 2018, with that number projected to increase to 100.8 million this year alone. A full list  25 Jun 2019 The world's remaining proved reserves of 1.73 trillion barrels can cover 50 years of current production rates, BP estimates. That's little changed  16 Dec 2019 Total Canadian proven oil reserves are estimated at 171.0 billion barrels, of which 166.3 billion Rank, Country, Percentage Share of Total. Proved oil and gas reserves are the estimated quantities of crude oil, natural gas, and OIL RESERVES, PRODUCTION AND CONSUMPTION BY COUNTRY.

16 Dec 2019 Total Canadian proven oil reserves are estimated at 171.0 billion barrels, of which 166.3 billion Rank, Country, Percentage Share of Total.

To identify the countries that control the world’s oil, 24/7 Wall St. ranked countries by 2017 proven oil reserves — those quantities that geological and engineering information indicates with According to current estimates, 79.4% of the world's proven oil reserves are located in OPEC Member Countries, with the bulk of OPEC oil reserves in the Middle East, amounting to 64.5% of the OPEC total. The holder of Africa’s largest proven oil reserves, Libya saw a disruption in oil production in 2011 due to conflict, but the country has recovered, and subsequently, has begun to increase supplies. According to a new analysis from oil and gas consulting firm Rystad Energy, the United States is the country with the largest volume of oil reserves, with Russia and Saudi Arabia coming in second and third, respectively. Rystad’s analysis includes oil in proven, existing fields,

Venezuela has the largest amount of oil reserves in the world with 300.9 billion barrels. Saudi Arabia has the second-largest amount of oil reserves in the world with 266.5 billion barrels. Despite Venezuela’s large supply of natural resources, the country still struggles economically and its people are going hungry.

This is a list of countries by proven oil reserves.Proven reserves are those quantities of petroleum which, by analysis of geological and engineering data, can be estimated, with a high degree of confidence, to be commercially recoverable from a given date forward from known reservoirs and under current economic conditions. With 300,878 million barrels of proven reserves, Venezuela has the largest amount of proven oil reserves in the world. The country's oil is a relatively new discovery. Previously, Saudi Arabia had always held the number one position. Some 70% of the world's proven oil reserves is held in OPEC countries, providing its members with a key political tool. Proven Oil Reserves is valued through geological and engineering processes to produce an estimated value of oil stocks in the ground.

17 Jun 2019 Rystad Energy's estimate of US recoverable oil is also five times more than officially reported proven reserves as published in the BP Statistical 

On a global basis, Rystad estimates that the world has about 2,092 billion barrels of reserves, or about 70 years’ worth of oil at today’s production rate of 30 billion barrels per year. This is a list of countries by natural gas proven reserves based on The World Factbook (when no citation is given). or other authoritative third-party sources (as cited). Based on data from BP, at the end of 2009, proved gas reserves were dominated by three countries: Iran, Russia, and Qatar, which together held nearly half the world's proven reserves. Oil reserves denote the amount of crude oil that can be technically recovered at a cost that is financially feasible at the present price of oil. Hence reserves will change with the price, unlike oil resources, which include all oil that can be technically recovered at any price.Reserves may be for a well, a reservoir, a field, a nation, or the world Crude oil - proved reserves is the stock of proved reserves of crude oil, in barrels (bbl). Proved reserves are those quantities of petroleum which, by analysis of geological and engineering data, can be estimated with a high degree of confidence to be commercially recoverable from a given date forward, from known reservoirs and under current economic conditions. Table 16 shows the estimated volumes of nonproducing proved reserves of crude oil, lease condensate, nonassociated natural gas, associated-dissolved natural gas, and total natural gas for 2018. As of December 31, 2018, the United States had 17.3 billion barrels of crude oil proved reserves and 192.1 Tcf of natural gas proved reserves in Proven oil reserves in the United States were 43.8 billion barrels of crude oil as of the end of 2018, excluding the Strategic Petroleum Reserve. The 2018 reserves represent the largest US proven reserves since 1972. The Energy Information Administration estimates US undiscovered, technically recoverable oil resources to be an additional 198 billion barrels.

Significantly, those countries are projected to have a correspondingly large Saudi Arabia has the second largest proven oil reserves in the world—some 268  

7 Oct 2019 The Mideast's Oil Producers, by Estimated Proved Reserves. Rank, Country, Reserves (bbn*), World Rank. 1, Saudi Arabia  The Strategic Oil Reserve was established in 1973 out of concerns that political conflict with Arab countries and trade embargoes would compromise the United  17 Jun 2019 Rystad Energy's estimate of US recoverable oil is also five times more than officially reported proven reserves as published in the BP Statistical  Jul 5, 2016 Rystad, which analyzed 60,000 fields worldwide over a three-year period, estimates global crude oil reserves at 2.1 trillion barrels, 70 times the 

Proven reserves are those quantities of petroleum which, by analysis of geological and engineering data, can be estimated, with a high degree of confidence,