Global Oil Reserves

Updated on 08.25.2022

Middle School

Life and earth sciences

5 min read

The estimation of oil reserves is the quantity that can be produced economically at a given time. The top 5 are still Venezuela, Saudi Arabia, Canada, Iran and Iraq.

Global Oil Reserves (in billions of tonnes)

Source: BP Statistical Review 2022
Country	Proved Reserves in 2020	Share of Global Reserves
Venezuela	48,0	17,5%
Saudi Arabia	40,9	17,2%
Canada	27,1	9,7%
Iran	21,7	9,1%
Iraq	19,6	8,4%
Russia	14,8	6,2%
Kuwait	14,0	5,9%
United Arab Emirates	13,0	5,6%
United States	8,2	4,0%
Libya	6,3	2,8%
Nigeria	5,0	2,1%
Kazakhstan	3,9	1,7%
China	3,5	1,5%
Qatar	2,6	1,5%
Brazil	1,7	0,7%
Rest of the World	14,2	6,11%
Total World	244,40	100,00%