Proven oil reserves are those quantities of petroleum which, by analysis of geological and engineering data, can be estimated with a high degree of confidence to be commercially recoverable from a given date forward from known reservoirs and under current economic conditions.

Some statistics on this page are disputed and controversial — different sources (like OPEC, CIA World Factbook and oil companies) give different figures. Some of the differences reflect the different types of oil included. Different estimates may or may not include oil shale, mined oil sands, or natural gas liquids.

Because proven reserves include oil recoverable under current economic conditions, nations may see large increases in proven reserves when known, but previously uneconomic deposits become economic to develop. In this way, Canada's proven reserves increased suddenly in 2003 when the oil sands of Alberta were seen to be economically viable. Similarly, Venezuela's proven reserves jumped in the late 2000s when the heavy oil of the Orinoco Belt was judged economic.

Sources Sources sometimes differ on the volume of proven oil reserves. The differences sometimes result from different classes of oil included and sometimes result from different definitions of proven. (The data below does not seem to include shale oil and other unconventional sources of oil such as tar sands. For instance, North America has over 3 trillion barrels of shale oil reserves, and the majority of oil produced in the US is from shale, leading to the paradoxical data below that the US will finish all its oil at 2024 production levels in 10 years.)

+ Comparison of proven oil reserves from some widely used sources (billions of barrels, 2021) Source Canada Iran Iraq Russia Saudi Arabia United States Venezuela BP 168.1 157.8 145.0 107.8 297.5 68.8 303.8Eni168.1208.6145.0107.8258.554.6303.8 OPEC 5.0 208.6 145.0 80.0 267.2 38.8 303.5 US CIA 170.3 208.6 145.0 80.0 258.6 38.2 303.8 US EIA 168.1 208.6 145.0 80.0 261.6 60.5 303.6

Countries

Reserve amounts are listed in millions of barrels.

+Proven reserves (millions of barrels) Country U.S. EIA OPEC BPEni Others Oil production2025Y(thousands of bbl/day) Years ofproductionin reserve (OPEC) 304,000 303,221 303,800 303,806 968 858 (OPEC) 267,000 267,200 297,500 258,481 77 (OPEC) 209,000 208,600 157,800 208,600 136 170,000 4,344 168,100 168,088 163,000 90 (OPEC) 145,000 145,019 145,000 145,019 147,000 90 113,000 113,000 97,800 97,800 81 (OPEC) 102,000 101,500 101,500 101,500 108(OPEC+) 58,000 80,000 107,800 107,80480,000 22 (OPEC) 50,000 48,363 48,400 48,36342,000 97 74,000 45,014 68,800 54,644 46,422 9 (OPEC) 37,000 37,280 36,900 37,695 64 (OPEC+) 30,000 30,000 30,000 29,921 40 26,000 28,182 26,000 25,963 18 25,000 25,244 25,200 25,244 53 20,000 colspan=2 440 20,000-15,000 colspan=2 (OPEC+) 13,000 15,894 11,900 11,937 16,848 12 (OPEC) 12,000 12,200 12,200 12,200 29 11,000 11,000 747 40 8,300 8,273 1,300 8,273 441 51 (OPEC+) 7,000 7,000 7,000 6,978 561 34 7,000 6,912 7,900 7,898 8,120 10 (OPEC+) 6,000 5,136 6,100 7,010 9,700 8 (OPEC+) 5,400 4,971 5,400 5,358 14 4,840 4,918 4,500 4,293 4,409 581 23 4,400 4,400 4,400 4,391 165 73 (OPEC+) 3,800 3,500 3,5003,500 3,500 113 85 3,300 3,300 3,100 3,146 3,300 510 18 3,000 3,000 2,881 15 548 3,000 2,999 2,500 2,483 794 10 (OPEC+) 3,600 2,700 2,700 4,727 5,542 516 14 2,600 2,550 7,800 7,783 9,000 7 2,500 2,500 2,661 75 91 2,500 1,004 colspan=2 2,500 2,410 2,400 2,480 3,497 582 11 2,400 87 12 548 1,800 2,019 2,000 1,843 2,020 746 7 (OPEC) 2,000 2,000 2,000 2,000 239 23 (OPEC) 1,800 1,811 2,900 1,660 180 241 21 2,400 1,803 2,400 3,995 4,002 246 20 2,500 1,500 2,500 2,700 2,618 616 7 1,500 1,500 1,583 126 33 (OPEC+) 1,300 1,500 1,500 185 1,250 30 137 1,400 365 1350 125 31 (OPEC+) 1,100 1,100 1,100 1,100 101 30 (OPEC) 1,100 1,100 1,100 1,100 76 40 1,030–600 100 28 719 2 984 700 681 660 183 10 600 600 600 601 191 9 600 600 601 52 32 600 594 600 594 30 54 600 585-560 colspan=2 500 600 583 595 84 16 500 377 236 58 24 400 400 403 25 44 400 395 487 colspan=2 900 700 985 386 44 24 400 365 400 425 550 73 14 300 300 293 162 5 257 2,438 14 50 200 574 210 18 30 200 247 200 59 9 200 246 150-120 12 46 200 200 242 830 51 11 200 198 244 26 21 200 100 158 32 17 200 222 180 16 31 (OPEC+) 200 304 186.5-124.6 176 2 200 185 150 colspan=2 200 147 150 101 4 150 150185 150 2 205 139 172 138.5 0.5 758 100 384 229 32 9 100 190 141 21 13 100 153 124 25 11 100 119 100 55 5 100 114 151 17 16 100 62 5.6 49 88colspan=2 86 99 5.4 44 83 125 10 23 77 96 11 19 71 90 71 9 22 44 54 3.1 39 40 66 41 7 16 40 49 40 5.5 20 35 59 8.8 11 35 43 35 0.2 479 28 35 3 26 20 123 20 colspan=2 16 colspan=2 15 19 15 1.3 32 15 19 15 1 41 15 19 15 0.4 103 12 15 15.7–12 0.7 54 12 22 35 23 1 12 15 12 0.3 110 12 2 12 20 2 10 12 10 1.5 18 9 11 colspan=2 8 10 8 colspan=2 6 9 6.7 0.8 23 4.5colspan=2 2.4 2 0.2 33 1 2 1 3 1 1 1 colspan=2 1 1 0.684 colspan=2 0 15 15 colspan=2 1,720,000 1,566,869 1,732,400 1,740,264 84,568 ~51 indicates links to "Oil reserves in Country or Territory" or "Energy in Country or Territory" pages. Notes

See also List of countries by oil extraction List of countries by oil consumption List of countries by natural gas proven reserves

References