Feature Report: Oil Producers and Consumers

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Featured Figures

Global Oil Reserves

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 billion tons)

 
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%

 

Source: BP Statistical Review 2022