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
1Venezuela303.8747,000 Mbbl/d604.8 MMbbl/d
2Saudi Arabia297.53,237,000 Mbbl/d10,815.7 MMbbl/d430 Mbbl/d
3Canada168.12,379,000 Mbbl/d5,468.1 MMbbl/d4,340 Mbbl/d
4Iran157.81,922,000 Mbbl/d3,450.3 MMbbl/d3 Mbbl/d
5Iraq145850,000 Mbbl/d4,161.5 MMbbl/d157 Mbbl/d
6Russia107.83,594,000 Mbbl/d10,749.5 MMbbl/d672 Mbbl/d
7Kuwait101.5500,000 Mbbl/d2,720.5 MMbbl/d33 Mbbl/d
8United Arab Emirates97.8901,000 Mbbl/d3,769.1 MMbbl/d40 Mbbl/d
9United States of America68.819,690,000 Mbbl/d17,924.2 MMbbl/d
10Libya48.4262,000 Mbbl/d1,252.8 MMbbl/d91 Mbbl/d
11Nigeria36.9316,000 Mbbl/d1,646.9 MMbbl/d125 Mbbl/d
12Kazakhstan30186,300 Mbbl/d1,864.9 MMbbl/d33 Mbbl/d
13People's Republic of China2611,750,000 Mbbl/d4,712.2 MMbbl/d3 Mbbl/d
14Qatar25.2280,000 Mbbl/d1,815.1 MMbbl/d22 Mbbl/d
15Algeria12.2428,000 Mbbl/d1,414.8 MMbbl/d40 Mbbl/d
16Brazil11.93,018,000 Mbbl/d3,629.1 MMbbl/d143 Mbbl/d
17Norway7.9227,700 Mbbl/d2,026 MMbbl/d72 Mbbl/d
18Angola7.8142,000 Mbbl/d1,197.6 MMbbl/d36 Mbbl/d
19Azerbaijan7101,000 Mbbl/d711.7 MMbbl/d0 Mbbl/d
20Mexico6.12,027,000 Mbbl/d1,905.5 MMbbl/d711 Mbbl/d
21Oman5.4176,000 Mbbl/d978.8 MMbbl/d8 Mbbl/d
22India4.54,489,000 Mbbl/d771.4 MMbbl/d100 Mbbl/d
23Vietnam4.4422,000 Mbbl/d197.7 MMbbl/d
24South Sudan3.511,000 Mbbl/d157.1 MMbbl/d
25Egypt3.1802,000 Mbbl/d660.8 MMbbl/d32 Mbbl/d
26Yemen3140,000 Mbbl/d70.1 MMbbl/d
27Republic of the Congo2.918,000 Mbbl/d270.9 MMbbl/d1 Mbbl/d
28Malaysia2.7760,000 Mbbl/d593.8 MMbbl/d5 Mbbl/d
29Argentina2.5803,000 Mbbl/d690.2 MMbbl/d38 Mbbl/d
30Syria2.5140,000 Mbbl/d80.8 MMbbl/d
31United Kingdom2.51,586,000 Mbbl/d890.4 MMbbl/d104 Mbbl/d
32Australia2.41,100,000 Mbbl/d441.5 MMbbl/d
33Indonesia2.41,615,000 Mbbl/d842.3 MMbbl/d4 Mbbl/d
34Colombia2345,000 Mbbl/d756.4 MMbbl/d203 Mbbl/d
35Gabon222,000 Mbbl/d175 MMbbl/d0 Mbbl/d
36Chad1.52,200 Mbbl/d87.9 MMbbl/d
37Sudan1.5110,000 Mbbl/d66.9 MMbbl/d
38Ecuador1.3274,000 Mbbl/d478 MMbbl/d168 Mbbl/d
39Brunei1.118,000 Mbbl/d107.3 MMbbl/d26 Mbbl/d
40Equatorial Guinea1.15,200 Mbbl/d142.6 MMbbl/d2 Mbbl/d
41Peru0.7240,000 Mbbl/d122.5 MMbbl/d10 Mbbl/d
42Italy0.61,253,000 Mbbl/d107.7 MMbbl/d48 Mbbl/d
43Romania0.6182,000 Mbbl/d74 MMbbl/d1 Mbbl/d
44Turkmenistan0.6158,000 Mbbl/d249.7 MMbbl/d
45Uzbekistan0.661,000 Mbbl/d36.2 MMbbl/d
46Denmark0.4158,200 Mbbl/d68 MMbbl/d1 Mbbl/d
47Tunisia0.498,000 Mbbl/d42.5 MMbbl/d
48Thailand0.31,272,000 Mbbl/d438.2 MMbbl/d
49Trinidad and Tobago0.246,000 Mbbl/d81 MMbbl/d40 Mbbl/d

Oil Reserves by Country

Algeria

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Oil Reserves

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12.2

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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7.8

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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2.5

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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2.4

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

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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11.9

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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1.1

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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168.1

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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1.5

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

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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0.4

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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1.3

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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3.1

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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1.1

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

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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4.5

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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2.4

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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157.8

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

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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0.6

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

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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101.5

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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48.4

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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2.7

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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6.1

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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36.9

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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7.9

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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5.4

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

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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0.7

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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25.2

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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2.9

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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0.6

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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107.8

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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297.5

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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3.5

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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1.5

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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2.5

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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0.3

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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0.2

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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0.4

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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0.6

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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97.8

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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2.5

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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68.8

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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0.6

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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303.8

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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4.4

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

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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