Oil Reserves By Country

Oil Reserves (Barrels)

Oil Reserves (Barrels)
1.VenezuelaVenezuela303.8B
2.Saudi ArabiaSaudi Arabia297.5B
3.CanadaCanada168.1B
4.IranIran157.8B
5.IraqIraq145.0B
6.RussiaRussia107.8B
7.KuwaitKuwait101.5B
8.United Arab EmiratesUnited Arab Emirates97.8B
9.United StatesUnited States68.8B
10.LibyaLibya48.4B
11.NigeriaNigeria36.9B
12.KazakhstanKazakhstan30.0B
13.ChinaChina26.0B
14.QatarQatar25.2B
15.AlgeriaAlgeria12.2B
16.BrazilBrazil11.9B
17.NorwayNorway7.9B
18.AngolaAngola7.8B
19.AzerbaijanAzerbaijan7.0B
20.MexicoMexico6.1B
21.OmanOman5.4B
22.IndiaIndia4.5B
23.VietnamVietnam4.4B
24.South SudanSouth Sudan3.5B
25.EgyptEgypt3.1B
26.YemenYemen3.0B
27.Republic of the CongoRepublic of the Congo2.9B
28.MalaysiaMalaysia2.7B
29.United KingdomUnited Kingdom2.5B
30.ArgentinaArgentina2.5B
31.SyriaSyria2.5B
32.IndonesiaIndonesia2.4B
33.AustraliaAustralia2.4B
34.ColombiaColombia2.0B
35.GabonGabon2.0B
36.SudanSudan1.5B
37.ChadChad1.5B
38.EcuadorEcuador1.3B
39.Equatorial GuineaEquatorial Guinea1.1B
40.BruneiBrunei1.1B
41.PeruPeru700.0M
42.UzbekistanUzbekistan600.0M
43.RomaniaRomania600.0M
44.TurkmenistanTurkmenistan600.0M
45.TunisiaTunisia400.0M
46.DenmarkDenmark400.0M
47.ThailandThailand300.0M
48.Trinidad and TobagoTrinidad and Tobago200.0M

A Deep Dive into Oil Reserves

As the world continues its heavy reliance on fossil fuels, countries' oil reserves often come under significant scrutiny due to their economic and geopolitical importance. Oil reserves represent a nation's quantity of oil that can be technically and economically recoverable, proving a lifeline for many economies around the globe as they generate significant revenue, especially for oil-rich nations. This article takes a deep dive into the distribution, size, and status of oil reserves globally, focusing more closely on the situation in the United States. From information available, we obtained several critical insights:

  • Venezuela tops the list with the largest oil reserves worldwide, boasting an impressive volume of 303.8 billion barrels. This South American nation is followed closely by Saudi Arabia, with an estimated 297.5 billion barrels.
  • The United States, one of the world's largest oil consumers, has a significant but not topmost reservoir of oil reserves. The country's total oil reserves stand at 68.8 billion barrels, ranking ninth globally.
  • A noticeable trend is the high concentration of oil reserves in the Middle East, with Iraq, Iran, Kuwait, and the United Arab Emirates making it to the top ten. These nations together account for a substantial proportion of the world's total oil reserves.
  • China, housing the world's largest population, maintains 26.0 billion barrels—far less than the leading oil reserve nations. Similarly, India, another populous nation, has only 4.5 billion barrels of oil reserved.
  • Rounding up the tail end of the list are countries like Trinidad and Tobago and Thailand, with 0.2 billion and 0.3 billion barrels respectively - evidence of the marked disparity in oil reserves globally.

Countries With Largest Oil Reserves

The top ten countries globally with the highest recorded oil reserves include Venezuela, Saudi Arabia, Canada, Iran, Iraq, Russia, Kuwait, the United Arab Emirates, the United States, and finally Libya. Venezuela tops the list with a staggering oil reserve of 303.8 billion barrels. Following closely at second place is Saudi Arabia with oil reserves measuring up to 297.5 billion barrels. Canada ranks third on this list with an impressive 168.1 billion barrels of oil reserves. Fourth and fifth places go to Iran and Iraq with 157.8 billion and 145.0 billion barrels respectively. Russia holds the sixth position, with oil reserves recorded at 107.8 billion barrels. Kuwait ranks seventh with reserves of 101.5 billion barrels. The United Arab Emirates takes the eighth spot on this list with its oil reserves pegged at 97.8 billion barrels, with the United States following in ninth place with oil reserves of 68.8 billion barrels. Finally, rounding up the top 10 counties with the highest oil reserves is Libya, possessing a still substantial 48.4 billion barrels of oil reserves. 10 Countries with the Highest Oil Reserves:

  1. Venezuela - 303.8B Barrels
  2. Saudi Arabia - 297.5B Barrels
  3. Canada - 168.1B Barrels
  4. Iran - 157.8B Barrels
  5. Iraq - 145.0B Barrels
  6. Russia - 107.8B Barrels
  7. Kuwait - 101.5B Barrels
  8. United Arab Emirates - 97.8B Barrels
  9. United States - 68.8B Barrels
  10. Libya - 48.4B Barrels

By Region

Algeria

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Algeria

Metric

Value

Rank

Oil Reserves

12.2B

#15

Angola

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Angola

Metric

Value

Rank

Oil Reserves

7.8B

#18

Argentina

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Argentina

Metric

Value

Rank

Oil Reserves

2.5B

#30

Australia

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Australia

Metric

Value

Rank

Oil Reserves

2.4B

#33

Azerbaijan

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Azerbaijan

Metric

Value

Rank

Oil Reserves

7.0B

#19

Brazil

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Brazil

Metric

Value

Rank

Oil Reserves

11.9B

#16

Brunei

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Brunei

Metric

Value

Rank

Oil Reserves

1.1B

#40

Canada

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Canada

Metric

Value

Rank

Oil Reserves

168.1B

#3

Chad

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Chad

Metric

Value

Rank

Oil Reserves

1.5B

#37

China

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China

Metric

Value

Rank

Oil Reserves

26.0B

#13

Colombia

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Colombia

Metric

Value

Rank

Oil Reserves

2.0B

#34

Denmark

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Denmark

Metric

Value

Rank

Oil Reserves

400.0M

#46

Ecuador

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Ecuador

Metric

Value

Rank

Oil Reserves

1.3B

#38

Egypt

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Egypt

Metric

Value

Rank

Oil Reserves

3.1B

#25

Equatorial Guinea

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Equatorial Guinea

Metric

Value

Rank

Oil Reserves

1.1B

#39

Gabon

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Gabon

Metric

Value

Rank

Oil Reserves

2.0B

#35

India

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India

Metric

Value

Rank

Oil Reserves

4.5B

#22

Indonesia

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Indonesia

Metric

Value

Rank

Oil Reserves

2.4B

#32

Iran

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Iran

Metric

Value

Rank

Oil Reserves

157.8B

#4

Iraq

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Iraq

Metric

Value

Rank

Oil Reserves

145.0B

#5

Kazakhstan

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Kazakhstan

Metric

Value

Rank

Oil Reserves

30.0B

#12

Kuwait

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Kuwait

Metric

Value

Rank

Oil Reserves

101.5B

#7

Libya

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Libya

Metric

Value

Rank

Oil Reserves

48.4B

#10

Malaysia

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Malaysia

Metric

Value

Rank

Oil Reserves

2.7B

#28

Mexico

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Mexico

Metric

Value

Rank

Oil Reserves

6.1B

#20

Nigeria

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Nigeria

Metric

Value

Rank

Oil Reserves

36.9B

#11

Norway

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Norway

Metric

Value

Rank

Oil Reserves

7.9B

#17

Oman

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Oman

Metric

Value

Rank

Oil Reserves

5.4B

#21

Peru

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Peru

Metric

Value

Rank

Oil Reserves

700.0M

#41

Qatar

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Qatar

Metric

Value

Rank

Oil Reserves

25.2B

#14

Republic of the Congo

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Republic of the Congo

Metric

Value

Rank

Oil Reserves

2.9B

#27

Romania

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Romania

Metric

Value

Rank

Oil Reserves

600.0M

#43

Russia

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Russia

Metric

Value

Rank

Oil Reserves

107.8B

#6

Saudi Arabia

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Saudi Arabia

Metric

Value

Rank

Oil Reserves

297.5B

#2

South Sudan

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South Sudan

Metric

Value

Rank

Oil Reserves

3.5B

#24

Sudan

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Sudan

Metric

Value

Rank

Oil Reserves

1.5B

#36

Syria

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Syria

Metric

Value

Rank

Oil Reserves

2.5B

#31

Thailand

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Thailand

Metric

Value

Rank

Oil Reserves

300.0M

#47

Trinidad and Tobago

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Trinidad and Tobago

Metric

Value

Rank

Oil Reserves

200.0M

#48

Tunisia

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Tunisia

Metric

Value

Rank

Oil Reserves

400.0M

#45

Turkmenistan

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Turkmenistan

Metric

Value

Rank

Oil Reserves

600.0M

#44

United Arab Emirates

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United Arab Emirates

Metric

Value

Rank

Oil Reserves

97.8B

#8

United Kingdom

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United Kingdom

Metric

Value

Rank

Oil Reserves

2.5B

#29

United States

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United States

Metric

Value

Rank

Oil Reserves

68.8B

#9

Uzbekistan

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Uzbekistan

Metric

Value

Rank

Oil Reserves

600.0M

#42

Venezuela

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Venezuela

Metric

Value

Rank

Oil Reserves

303.8B

#1

Vietnam

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Vietnam

Metric

Value

Rank

Oil Reserves

4.4B

#23

Yemen

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Yemen

Metric

Value

Rank

Oil Reserves

3.0B

#26

Source

Statistical Review of World Energy - British Petroleum