Oil Reserves by Country

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Introduction

Petroleum, or crude oil, is a naturally occurring fossil fuel that is formed when dead organisms, buried under rock, are subject to extended periods of heat and pressure. Once extracted from the ground, typically done by drilling, the crude oil can be turned into products like gasoline, plastic, and pharmaceuticals. The many uses of oil, combined with the importance of oil products, makes it one of the most profitable materials in the world.

Oil reserves refer to the amount of oil a country can extract at a financially reasonable cost. However, the amount that is in reserve will change as the price of oil changes, because the reasonableness of the cost is closely tied to the actual market value of the oil. Also, oil has provided many countries a reliable resource that their economies are based around, for instance states like Saudi Arabia, Kuwait, and the United Arab Emirates are all somewhat dependent on oil revenues. However, they have recently sought to diversify their economies due to the gradual instability that basing your economy on one resource. Furthermore, if a state had high levels of “liquid gold” it is not necessarily a good thing according to the “oil spoils” concept, which argues that the presence of oil revenues or other extracted natural resources in a country causes political instability.

Despite its many uses, oil production is highly contentious, mostly due to its effects on the environment and climate change. Notably, the extraction, refining, and burning of oil and its products release large quantities of greenhouse gasses. In response to the environmental impacts of oil production, countries have begun to seek alternative sources of energy to replace oil; rather, they are keeping their oil in reserves under the ground.

Learn more about oil reserves by country by scrolling the map and charts.

 

#CountryOil ReservesOil ConsumptionCrude Oil ProductionUS Crude Oil Imports
1Venezuela303,800 MMbbl747,000 Mbbl/d604.8 MMbbl/d
2Saudi Arabia297,500 MMbbl3,237,000 Mbbl/d10,815.7 MMbbl/d430 Mbbl/d
3Canada168,100 MMbbl2,379,000 Mbbl/d5,468.1 MMbbl/d4,340 Mbbl/d
4Iran157,800 MMbbl1,922,000 Mbbl/d3,450.3 MMbbl/d3 Mbbl/d
5Iraq145,000 MMbbl850,000 Mbbl/d4,161.5 MMbbl/d157 Mbbl/d
6Russia107,800 MMbbl3,594,000 Mbbl/d10,749.5 MMbbl/d672 Mbbl/d
7Kuwait101,500 MMbbl500,000 Mbbl/d2,720.5 MMbbl/d33 Mbbl/d
8United Arab Emirates97,800 MMbbl901,000 Mbbl/d3,769.1 MMbbl/d40 Mbbl/d
9United States of America68,800 MMbbl19,690,000 Mbbl/d17,924.2 MMbbl/d
10Libya48,400 MMbbl262,000 Mbbl/d1,252.8 MMbbl/d91 Mbbl/d
11Nigeria36,900 MMbbl316,000 Mbbl/d1,646.9 MMbbl/d125 Mbbl/d
12Kazakhstan30,000 MMbbl186,300 Mbbl/d1,864.9 MMbbl/d33 Mbbl/d
13People's Republic of China26,000 MMbbl11,750,000 Mbbl/d4,712.2 MMbbl/d3 Mbbl/d
14Qatar25,200 MMbbl280,000 Mbbl/d1,815.1 MMbbl/d22 Mbbl/d
15Algeria12,200 MMbbl428,000 Mbbl/d1,414.8 MMbbl/d40 Mbbl/d
16Brazil11,900 MMbbl3,018,000 Mbbl/d3,629.1 MMbbl/d143 Mbbl/d
17Norway7,900 MMbbl227,700 Mbbl/d2,026 MMbbl/d72 Mbbl/d
18Angola7,800 MMbbl142,000 Mbbl/d1,197.6 MMbbl/d36 Mbbl/d
19Azerbaijan7,000 MMbbl101,000 Mbbl/d711.7 MMbbl/d0 Mbbl/d
20Mexico6,100 MMbbl2,027,000 Mbbl/d1,905.5 MMbbl/d711 Mbbl/d
21Oman5,400 MMbbl176,000 Mbbl/d978.8 MMbbl/d8 Mbbl/d
22India4,500 MMbbl4,489,000 Mbbl/d771.4 MMbbl/d100 Mbbl/d
23Vietnam4,400 MMbbl422,000 Mbbl/d197.7 MMbbl/d
24South Sudan3,500 MMbbl11,000 Mbbl/d157.1 MMbbl/d
25Egypt3,100 MMbbl802,000 Mbbl/d660.8 MMbbl/d32 Mbbl/d
26Yemen3,000 MMbbl140,000 Mbbl/d70.1 MMbbl/d
27Republic of the Congo2,900 MMbbl18,000 Mbbl/d270.9 MMbbl/d1 Mbbl/d
28Malaysia2,700 MMbbl760,000 Mbbl/d593.8 MMbbl/d5 Mbbl/d
29Argentina2,500 MMbbl803,000 Mbbl/d690.2 MMbbl/d38 Mbbl/d
30Syria2,500 MMbbl140,000 Mbbl/d80.8 MMbbl/d
31United Kingdom2,500 MMbbl1,586,000 Mbbl/d890.4 MMbbl/d104 Mbbl/d
32Australia2,400 MMbbl1,100,000 Mbbl/d441.5 MMbbl/d
33Indonesia2,400 MMbbl1,615,000 Mbbl/d842.3 MMbbl/d4 Mbbl/d
34Colombia2,000 MMbbl345,000 Mbbl/d756.4 MMbbl/d203 Mbbl/d
35Gabon2,000 MMbbl22,000 Mbbl/d175 MMbbl/d0 Mbbl/d
36Chad1,500 MMbbl2,200 Mbbl/d87.9 MMbbl/d
37Sudan1,500 MMbbl110,000 Mbbl/d66.9 MMbbl/d
38Ecuador1,300 MMbbl274,000 Mbbl/d478 MMbbl/d168 Mbbl/d
39Brunei1,100 MMbbl18,000 Mbbl/d107.3 MMbbl/d26 Mbbl/d
40Equatorial Guinea1,100 MMbbl5,200 Mbbl/d142.6 MMbbl/d2 Mbbl/d
41Peru700 MMbbl240,000 Mbbl/d122.5 MMbbl/d10 Mbbl/d
42Italy600 MMbbl1,253,000 Mbbl/d107.7 MMbbl/d48 Mbbl/d
43Romania600 MMbbl182,000 Mbbl/d74 MMbbl/d1 Mbbl/d
44Turkmenistan600 MMbbl158,000 Mbbl/d249.7 MMbbl/d
45Uzbekistan600 MMbbl61,000 Mbbl/d36.2 MMbbl/d
46Denmark400 MMbbl158,200 Mbbl/d68 MMbbl/d1 Mbbl/d
47Tunisia400 MMbbl98,000 Mbbl/d42.5 MMbbl/d
48Thailand300 MMbbl1,272,000 Mbbl/d438.2 MMbbl/d
49Trinidad and Tobago200 MMbbl46,000 Mbbl/d81 MMbbl/d40 Mbbl/d

Oil Reserves by Country

Algeria

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Oil Reserves

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12,200 MMbbl

Ranked in the World

#15

428,000 Mbbl/d

Ranked in the World

#36

1,414.8 MMbbl/d

Ranked in the World

#16

Ranked in the World

#19

Angola

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7,800 MMbbl

Ranked in the World

#18

142,000 Mbbl/d

Ranked in the World

#71

1,197.6 MMbbl/d

Ranked in the World

#18

Ranked in the World

#25

Argentina

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2,500 MMbbl

Ranked in the World

#29

803,000 Mbbl/d

Ranked in the World

#26

690.2 MMbbl/d

Ranked in the World

#25

Ranked in the World

#24

Australia

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2,400 MMbbl

Ranked in the World

#32

1,100,000 Mbbl/d

Ranked in the World

#20

441.5 MMbbl/d

Ranked in the World

#30

Azerbaijan

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7,000 MMbbl

Ranked in the World

#19

101,000 Mbbl/d

Ranked in the World

#80

711.7 MMbbl/d

Ranked in the World

#24

Ranked in the World

#65

Brazil

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11,900 MMbbl

Ranked in the World

#16

3,018,000 Mbbl/d

Ranked in the World

#7

3,629.1 MMbbl/d

Ranked in the World

#8

143 Mbbl/d

Ranked in the World

#8

Brunei

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1,100 MMbbl

Ranked in the World

#39

18,000 Mbbl/d

Ranked in the World

#135

107.3 MMbbl/d

Ranked in the World

#44

Ranked in the World

#33

Canada

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168,100 MMbbl

Ranked in the World

#3

2,379,000 Mbbl/d

Ranked in the World

#10

5,468.1 MMbbl/d

Ranked in the World

#4

4,340 Mbbl/d

Ranked in the World

#1

Chad

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1,500 MMbbl

Ranked in the World

#36

2,200 Mbbl/d

Ranked in the World

#177

87.9 MMbbl/d

Ranked in the World

#47

Colombia

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2,000 MMbbl

Ranked in the World

#34

345,000 Mbbl/d

Ranked in the World

#39

756.4 MMbbl/d

Ranked in the World

#23

203 Mbbl/d

Ranked in the World

#5

Denmark

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400 MMbbl

Ranked in the World

#46

158,200 Mbbl/d

Ranked in the World

#64

68 MMbbl/d

Ranked in the World

#54

Ranked in the World

#56

Ecuador

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1,300 MMbbl

Ranked in the World

#38

274,000 Mbbl/d

Ranked in the World

#46

478 MMbbl/d

Ranked in the World

#29

168 Mbbl/d

Ranked in the World

#6

Egypt

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3,100 MMbbl

Ranked in the World

#25

802,000 Mbbl/d

Ranked in the World

#27

660.8 MMbbl/d

Ranked in the World

#26

Ranked in the World

#28

Equatorial Guinea

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1,100 MMbbl

Ranked in the World

#40

5,200 Mbbl/d

Ranked in the World

#163

142.6 MMbbl/d

Ranked in the World

#39

Ranked in the World

#52

Gabon

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2,000 MMbbl

Ranked in the World

#35

22,000 Mbbl/d

Ranked in the World

#131

175 MMbbl/d

Ranked in the World

#37

Ranked in the World

#67

India

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4,500 MMbbl

Ranked in the World

#22

4,489,000 Mbbl/d

Ranked in the World

#3

771.4 MMbbl/d

Ranked in the World

#22

100 Mbbl/d

Ranked in the World

#13

Indonesia

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2,400 MMbbl

Ranked in the World

#33

1,615,000 Mbbl/d

Ranked in the World

#14

842.3 MMbbl/d

Ranked in the World

#21

Ranked in the World

#46

Iran

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157,800 MMbbl

Ranked in the World

#4

1,922,000 Mbbl/d

Ranked in the World

#12

3,450.3 MMbbl/d

Ranked in the World

#9

Ranked in the World

#49

Iraq

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145,000 MMbbl

Ranked in the World

#5

850,000 Mbbl/d

Ranked in the World

#25

4,161.5 MMbbl/d

Ranked in the World

#6

157 Mbbl/d

Ranked in the World

#7

Italy

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600 MMbbl

Ranked in the World

#42

1,253,000 Mbbl/d

Ranked in the World

#19

107.7 MMbbl/d

Ranked in the World

#43

Ranked in the World

#18

Kazakhstan

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30,000 MMbbl

Ranked in the World

#12

186,300 Mbbl/d

Ranked in the World

#56

1,864.9 MMbbl/d

Ranked in the World

#13

Ranked in the World

#26

Kuwait

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101,500 MMbbl

Ranked in the World

#7

500,000 Mbbl/d

Ranked in the World

#34

2,720.5 MMbbl/d

Ranked in the World

#10

Ranked in the World

#27

Libya

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48,400 MMbbl

Ranked in the World

#10

262,000 Mbbl/d

Ranked in the World

#48

1,252.8 MMbbl/d

Ranked in the World

#17

Ranked in the World

#14

Malaysia

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2,700 MMbbl

Ranked in the World

#28

760,000 Mbbl/d

Ranked in the World

#28

593.8 MMbbl/d

Ranked in the World

#28

Ranked in the World

#43

Mexico

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6,100 MMbbl

Ranked in the World

#20

2,027,000 Mbbl/d

Ranked in the World

#11

1,905.5 MMbbl/d

Ranked in the World

#12

711 Mbbl/d

Ranked in the World

#2

Nigeria

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36,900 MMbbl

Ranked in the World

#11

316,000 Mbbl/d

Ranked in the World

#42

1,646.9 MMbbl/d

Ranked in the World

#15

125 Mbbl/d

Ranked in the World

#11

Norway

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7,900 MMbbl

Ranked in the World

#17

227,700 Mbbl/d

Ranked in the World

#52

2,026 MMbbl/d

Ranked in the World

#11

Ranked in the World

#16

Oman

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5,400 MMbbl

Ranked in the World

#21

176,000 Mbbl/d

Ranked in the World

#60

978.8 MMbbl/d

Ranked in the World

#19

Ranked in the World

#42

People's Republic of China

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26,000 MMbbl

Ranked in the World

#13

11,750,000 Mbbl/d

Ranked in the World

#2

4,712.2 MMbbl/d

Ranked in the World

#5

Ranked in the World

#50

Peru

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700 MMbbl

Ranked in the World

#41

240,000 Mbbl/d

Ranked in the World

#50

122.5 MMbbl/d

Ranked in the World

#41

Ranked in the World

#39

Qatar

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25,200 MMbbl

Ranked in the World

#14

280,000 Mbbl/d

Ranked in the World

#45

1,815.1 MMbbl/d

Ranked in the World

#14

Ranked in the World

#34

Republic of the Congo

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2,900 MMbbl

Ranked in the World

#27

18,000 Mbbl/d

Ranked in the World

#137

270.9 MMbbl/d

Ranked in the World

#32

Ranked in the World

#62

Romania

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600 MMbbl

Ranked in the World

#43

182,000 Mbbl/d

Ranked in the World

#57

74 MMbbl/d

Ranked in the World

#52

Ranked in the World

#63

Russia

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107,800 MMbbl

Ranked in the World

#6

3,594,000 Mbbl/d

Ranked in the World

#5

10,749.5 MMbbl/d

Ranked in the World

#3

672 Mbbl/d

Ranked in the World

#3

Saudi Arabia

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297,500 MMbbl

Ranked in the World

#2

3,237,000 Mbbl/d

Ranked in the World

#6

10,815.7 MMbbl/d

Ranked in the World

#2

430 Mbbl/d

Ranked in the World

#4

South Sudan

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3,500 MMbbl

Ranked in the World

#24

11,000 Mbbl/d

Ranked in the World

#151

157.1 MMbbl/d

Ranked in the World

#38

Sudan

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1,500 MMbbl

Ranked in the World

#37

110,000 Mbbl/d

Ranked in the World

#77

66.9 MMbbl/d

Ranked in the World

#55

Syria

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2,500 MMbbl

Ranked in the World

#30

140,000 Mbbl/d

Ranked in the World

#72

80.8 MMbbl/d

Ranked in the World

#50

Thailand

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300 MMbbl

Ranked in the World

#48

1,272,000 Mbbl/d

Ranked in the World

#18

438.2 MMbbl/d

Ranked in the World

#31

Trinidad and Tobago

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200 MMbbl

Ranked in the World

#49

46,000 Mbbl/d

Ranked in the World

#102

81 MMbbl/d

Ranked in the World

#49

Ranked in the World

#21

Tunisia

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400 MMbbl

Ranked in the World

#47

98,000 Mbbl/d

Ranked in the World

#81

42.5 MMbbl/d

Ranked in the World

#60

Turkmenistan

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600 MMbbl

Ranked in the World

#44

158,000 Mbbl/d

Ranked in the World

#65

249.7 MMbbl/d

Ranked in the World

#33

United Arab Emirates

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97,800 MMbbl

Ranked in the World

#8

901,000 Mbbl/d

Ranked in the World

#24

3,769.1 MMbbl/d

Ranked in the World

#7

Ranked in the World

#23

United Kingdom

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2,500 MMbbl

Ranked in the World

#31

1,586,000 Mbbl/d

Ranked in the World

#15

890.4 MMbbl/d

Ranked in the World

#20

104 Mbbl/d

Ranked in the World

#12

United States of America

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68,800 MMbbl

Ranked in the World

#9

19,690,000 Mbbl/d

Ranked in the World

#1

17,924.2 MMbbl/d

Ranked in the World

#1

Uzbekistan

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600 MMbbl

Ranked in the World

#45

61,000 Mbbl/d

Ranked in the World

#91

36.2 MMbbl/d

Ranked in the World

#64

Venezuela

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303,800 MMbbl

Ranked in the World

#1

747,000 Mbbl/d

Ranked in the World

#29

604.8 MMbbl/d

Ranked in the World

#27

Vietnam

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4,400 MMbbl

Ranked in the World

#23

422,000 Mbbl/d

Ranked in the World

#37

197.7 MMbbl/d

Ranked in the World

#34

Yemen

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3,000 MMbbl

Ranked in the World

#26

140,000 Mbbl/d

Ranked in the World

#73

70.1 MMbbl/d

Ranked in the World

#53

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