Global proven oil reserves
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. Some statistics on this page are disputed and controversial. Different sources give different figures. Some of the differences reflect different types of oil included. Diffe Oil reserves are the deposits of oil in the earth. In 2018, there were 1.67 trillion barrels of proven reserves. World Proven Crude Oil Reserves: Cumulative production versus net additions. During the period 2009-2018, OPEC Member Countries added 186.2 billion barrels to their total proven crude oil reserves, a significant addition compared to other crude oil producers. 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. But for now, crude oil is still the undisputed heavyweight champion of the energy world. In 2018, we consumed more oil than any prior year in history – about 99.3 million barrels per day on a global basis. This number is projected to rise again in 2019 to 100.8 million barrels per day. The Most Oil Reserves by Country
Overall, Rystad estimates the world’s proven oil reserves on an SPE basis total only 386 billion barrels, about one-quarter of the officially reported figures in BP’s review. Using a more a generous measure of recoverable oil based on contingent and prospective resources, however, yields widely different results.
1 Venezuela 297.57 billion barrels The proven oil reserves in Venezuela are claimed to be the largest in the world, according to an announcement in early 2011 Total global oil reserves are estimated at 2,092 billion barrels, or 70 times the current production rate of about 30 billion barrels of oil a year. For comparison, With the world's seventh largest proven crude oil reserves, the UAE is a responsible producer and critical partner in global energy markets. As a mainstay to the For example, the midpoint in our estimate range, 800 billion barrels, is more than triple the proven oil reserves of Saudi Arabia. Present U.S. demand for petroleum . 22 Nov 2019 According to the US EIA (Energy Information Administration), Venezuela has the largest proven crude oil reserves in the world at 303 billion Total proved world oil reserves (proved reserves are estimated quantities that into account that hard coal is given as proven recoverable reserves and oil as
Home Data / Graphs OPEC Oil Reserves World Proven Crude Oil Reserves: Cumulative production versus net additions World Proven Crude Oil Reserves: Cumulative production versus net additions During the period 2009-2018, OPEC Member Countries added 186.2 billion barrels to their total proven crude oil reserves, a significant addition compared to other crude oil producers.
For example, the midpoint in our estimate range, 800 billion barrels, is more than triple the proven oil reserves of Saudi Arabia. Present U.S. demand for petroleum . 22 Nov 2019 According to the US EIA (Energy Information Administration), Venezuela has the largest proven crude oil reserves in the world at 303 billion
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. That compares to the 1,300 billion barrels produced around the world in history.
BP Statistical Review of World Energy 2019. 15. Oil reserves at the end of 2018 totalled 1730 billion barrels, up 2 billion barrels with respect to 2017. The global Global rank and share of world's total. Cuba holds 124,000,000 barrels of proven oil reserves as of 2016, ranking 68th in the world and accounting for about 1 Venezuela 297.57 billion barrels The proven oil reserves in Venezuela are claimed to be the largest in the world, according to an announcement in early 2011 Total global oil reserves are estimated at 2,092 billion barrels, or 70 times the current production rate of about 30 billion barrels of oil a year. For comparison,
22 Oct 2012 Proven oil reserve is equal to rest of the world combined. By could be recovered it would be "equal to the entire world's proven oil reserves.".
22 Apr 2017 Most people just assume that Saudi Arabia is the world's oil king. While it's true that the Middle Eastern nation is the leading oil producer in OPEC,
U.S. crude oil and lease condensate proved reserves increased by 6.8 billion barrels (19.2%) in 2017, as the combination of total discoveries of 5.7 billion barrels and net revisions, net acquisitions, and adjustments totaling 4.5 billion barrels exceeded 2017 annual production of 3.4 billion barrels (Figure 9a). Proven reserves are those reserves claimed to have a reasonable certainty (normally at least 90% confidence) of being recoverable under existing economic and political conditions, with existing technology. Industry specialists refer to this as "P90" (that is, having a 90% certainty of being produced). Energy Information Administration - EIA - Official Energy Statistics from the U.S. Government global oil reserves According to the Organization of Petroleum Exporting Countries ( OPEC ), the world proven crude oil reserves stood at 1,074,850 million barrels * (about 153 billion tonnes) at the end of 2001.