Proved oil reserves globally 1990-2020

Published by Statista Research Department, May 21, 2024
In 2020, global proved crude oil reserves amounted to 244.4 billion metric tons in 2020. At that time, the leading countries based on oil reserves, including non-conventional deposits, were Venezuela, Saudi Arabia, and Canada. Venezuela's share of oil reserves stood at 17.5 percent of total global oil reserves.

Proved oil reserves worldwide from 1990 to 2020* (in billion metric tons)

CharacteristicProved reserves in billion metric tons
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Showing entries 1 to 13 (17 entries in total)
Statistic: Proved oil reserves worldwide from 1990 to 2020* (in billion metric tons)

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Release date

July 2021

Region

Worldwide

Survey time period

1990 to 2020

Supplementary notes

* Proved reserves of oil: generally taken to be those quantities that geological and engineering information indicates with reasonable certainty can be recovered in the future from known reservoirs under existing economic and operating conditions.
Reserves include gas condensate and natural gas liquids (NGLs) as well as crude oil.
The estimates in this table have been compiled using a combination of primary official sources, third-party data from the OPEC Secretariat, World Oil, Oil & Gas Journal, and an independent estimate of Russian and Chinese reserves based on information in the public domain. Canadian oil sands ‘under active development’ are an official estimate. Venezuelan Orinoco Belt reserves are based on the OPEC Secretariat and government announcements.
Figures for years not included in the pdf version were taken from the Data workbook of the Statistical Review.

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