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.
# | Country | Oil Reserves | Oil Consumption | Crude Oil Production | US Crude Oil Imports |
---|---|---|---|---|---|
1 | Venezuela | 303.8 | 747,000 Mbbl/d | 604.8 MMbbl/d | |
2 | Saudi Arabia | 297.5 | 3,237,000 Mbbl/d | 10,815.7 MMbbl/d | 430 Mbbl/d |
3 | Canada | 168.1 | 2,379,000 Mbbl/d | 5,468.1 MMbbl/d | 4,340 Mbbl/d |
4 | Iran | 157.8 | 1,922,000 Mbbl/d | 3,450.3 MMbbl/d | 3 Mbbl/d |
5 | Iraq | 145 | 850,000 Mbbl/d | 4,161.5 MMbbl/d | 157 Mbbl/d |
6 | Russia | 107.8 | 3,594,000 Mbbl/d | 10,749.5 MMbbl/d | 672 Mbbl/d |
7 | Kuwait | 101.5 | 500,000 Mbbl/d | 2,720.5 MMbbl/d | 33 Mbbl/d |
8 | United Arab Emirates | 97.8 | 901,000 Mbbl/d | 3,769.1 MMbbl/d | 40 Mbbl/d |
9 | United States of America | 68.8 | 19,690,000 Mbbl/d | 17,924.2 MMbbl/d | |
10 | Libya | 48.4 | 262,000 Mbbl/d | 1,252.8 MMbbl/d | 91 Mbbl/d |
11 | Nigeria | 36.9 | 316,000 Mbbl/d | 1,646.9 MMbbl/d | 125 Mbbl/d |
12 | Kazakhstan | 30 | 186,300 Mbbl/d | 1,864.9 MMbbl/d | 33 Mbbl/d |
13 | People's Republic of China | 26 | 11,750,000 Mbbl/d | 4,712.2 MMbbl/d | 3 Mbbl/d |
14 | Qatar | 25.2 | 280,000 Mbbl/d | 1,815.1 MMbbl/d | 22 Mbbl/d |
15 | Algeria | 12.2 | 428,000 Mbbl/d | 1,414.8 MMbbl/d | 40 Mbbl/d |
16 | Brazil | 11.9 | 3,018,000 Mbbl/d | 3,629.1 MMbbl/d | 143 Mbbl/d |
17 | Norway | 7.9 | 227,700 Mbbl/d | 2,026 MMbbl/d | 72 Mbbl/d |
18 | Angola | 7.8 | 142,000 Mbbl/d | 1,197.6 MMbbl/d | 36 Mbbl/d |
19 | Azerbaijan | 7 | 101,000 Mbbl/d | 711.7 MMbbl/d | 0 Mbbl/d |
20 | Mexico | 6.1 | 2,027,000 Mbbl/d | 1,905.5 MMbbl/d | 711 Mbbl/d |
21 | Oman | 5.4 | 176,000 Mbbl/d | 978.8 MMbbl/d | 8 Mbbl/d |
22 | India | 4.5 | 4,489,000 Mbbl/d | 771.4 MMbbl/d | 100 Mbbl/d |
23 | Vietnam | 4.4 | 422,000 Mbbl/d | 197.7 MMbbl/d | |
24 | South Sudan | 3.5 | 11,000 Mbbl/d | 157.1 MMbbl/d | |
25 | Egypt | 3.1 | 802,000 Mbbl/d | 660.8 MMbbl/d | 32 Mbbl/d |
26 | Yemen | 3 | 140,000 Mbbl/d | 70.1 MMbbl/d | |
27 | Republic of the Congo | 2.9 | 18,000 Mbbl/d | 270.9 MMbbl/d | 1 Mbbl/d |
28 | Malaysia | 2.7 | 760,000 Mbbl/d | 593.8 MMbbl/d | 5 Mbbl/d |
29 | Argentina | 2.5 | 803,000 Mbbl/d | 690.2 MMbbl/d | 38 Mbbl/d |
30 | Syria | 2.5 | 140,000 Mbbl/d | 80.8 MMbbl/d | |
31 | United Kingdom | 2.5 | 1,586,000 Mbbl/d | 890.4 MMbbl/d | 104 Mbbl/d |
32 | Australia | 2.4 | 1,100,000 Mbbl/d | 441.5 MMbbl/d | |
33 | Indonesia | 2.4 | 1,615,000 Mbbl/d | 842.3 MMbbl/d | 4 Mbbl/d |
34 | Colombia | 2 | 345,000 Mbbl/d | 756.4 MMbbl/d | 203 Mbbl/d |
35 | Gabon | 2 | 22,000 Mbbl/d | 175 MMbbl/d | 0 Mbbl/d |
36 | Chad | 1.5 | 2,200 Mbbl/d | 87.9 MMbbl/d | |
37 | Sudan | 1.5 | 110,000 Mbbl/d | 66.9 MMbbl/d | |
38 | Ecuador | 1.3 | 274,000 Mbbl/d | 478 MMbbl/d | 168 Mbbl/d |
39 | Brunei | 1.1 | 18,000 Mbbl/d | 107.3 MMbbl/d | 26 Mbbl/d |
40 | Equatorial Guinea | 1.1 | 5,200 Mbbl/d | 142.6 MMbbl/d | 2 Mbbl/d |
41 | Peru | 0.7 | 240,000 Mbbl/d | 122.5 MMbbl/d | 10 Mbbl/d |
42 | Italy | 0.6 | 1,253,000 Mbbl/d | 107.7 MMbbl/d | 48 Mbbl/d |
43 | Romania | 0.6 | 182,000 Mbbl/d | 74 MMbbl/d | 1 Mbbl/d |
44 | Turkmenistan | 0.6 | 158,000 Mbbl/d | 249.7 MMbbl/d | |
45 | Uzbekistan | 0.6 | 61,000 Mbbl/d | 36.2 MMbbl/d | |
46 | Denmark | 0.4 | 158,200 Mbbl/d | 68 MMbbl/d | 1 Mbbl/d |
47 | Tunisia | 0.4 | 98,000 Mbbl/d | 42.5 MMbbl/d | |
48 | Thailand | 0.3 | 1,272,000 Mbbl/d | 438.2 MMbbl/d | |
49 | Trinidad and Tobago | 0.2 | 46,000 Mbbl/d | 81 MMbbl/d | 40 Mbbl/d |
Oil Reserves by Country
Algeria
Oil Reserves
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
40 Mbbl/d
Ranked in the World
#19
Angola
Oil Reserves
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
36 Mbbl/d
Ranked in the World
#25
Argentina
Oil Reserves
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
38 Mbbl/d
Ranked in the World
#24
Australia
Oil Reserves
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
Oil Reserves
7
Ranked in the World
#19
101,000 Mbbl/d
Ranked in the World
#80
711.7 MMbbl/d
Ranked in the World
#24
0 Mbbl/d
Ranked in the World
#65
Brazil
Oil Reserves
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
Oil Reserves
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
26 Mbbl/d
Ranked in the World
#33
Canada
Oil Reserves
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
Oil Reserves
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
Oil Reserves
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
Oil Reserves
0.4
Ranked in the World
#46
158,200 Mbbl/d
Ranked in the World
#64
68 MMbbl/d
Ranked in the World
#54
1 Mbbl/d
Ranked in the World
#56
Ecuador
Oil Reserves
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
Oil Reserves
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
32 Mbbl/d
Ranked in the World
#28
Equatorial Guinea
Oil Reserves
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
2 Mbbl/d
Ranked in the World
#52
Gabon
Oil Reserves
2
Ranked in the World
#35
22,000 Mbbl/d
Ranked in the World
#131
175 MMbbl/d
Ranked in the World
#37
0 Mbbl/d
Ranked in the World
#67
India
Oil Reserves
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
Oil Reserves
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
4 Mbbl/d
Ranked in the World
#46
Iran
Oil Reserves
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
3 Mbbl/d
Ranked in the World
#49
Iraq
Oil Reserves
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
Oil Reserves
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
48 Mbbl/d
Ranked in the World
#18
Kazakhstan
Oil Reserves
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
33 Mbbl/d
Ranked in the World
#26
Kuwait
Oil Reserves
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
33 Mbbl/d
Ranked in the World
#27
Libya
Oil Reserves
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
91 Mbbl/d
Ranked in the World
#14
Malaysia
Oil Reserves
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
5 Mbbl/d
Ranked in the World
#43
Mexico
Oil Reserves
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
Oil Reserves
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
Oil Reserves
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
72 Mbbl/d
Ranked in the World
#16
Oman
Oil Reserves
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
8 Mbbl/d
Ranked in the World
#42
People's Republic of China
Oil Reserves
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
3 Mbbl/d
Ranked in the World
#50
Peru
Oil Reserves
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
10 Mbbl/d
Ranked in the World
#39
Qatar
Oil Reserves
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
22 Mbbl/d
Ranked in the World
#34
Republic of the Congo
Oil Reserves
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
1 Mbbl/d
Ranked in the World
#62
Romania
Oil Reserves
0.6
Ranked in the World
#43
182,000 Mbbl/d
Ranked in the World
#57
74 MMbbl/d
Ranked in the World
#52
1 Mbbl/d
Ranked in the World
#63
Russia
Oil Reserves
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
Oil Reserves
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
Oil Reserves
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
Oil Reserves
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
Oil Reserves
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
Oil Reserves
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
Oil Reserves
0.2
Ranked in the World
#49
46,000 Mbbl/d
Ranked in the World
#102
81 MMbbl/d
Ranked in the World
#49
40 Mbbl/d
Ranked in the World
#21
Tunisia
Oil Reserves
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
Oil Reserves
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
Oil Reserves
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
40 Mbbl/d
Ranked in the World
#23
United Kingdom
Oil Reserves
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
Oil Reserves
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
Oil Reserves
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
Oil Reserves
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
Oil Reserves
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
Oil Reserves
3
Ranked in the World
#26
140,000 Mbbl/d
Ranked in the World
#73
70.1 MMbbl/d
Ranked in the World
#53