Global Oil Reserves
Updated on 08.25.2022
5 min read
Middle School
Life and earth sciences
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)
| 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% |
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