The total volume of crude oil discoveries made worldwide in 2018 amounted to approximately 5.45 billion barrels of oil. The volume of oil discovered from 2015 onwards is notably smaller than the discoveries made in 2014 and in previous years due to decreased oil exploration as a result of the fall in oil prices that occurred. In 2021, the combined oil and gas discovery volume worldwide stood at 4.7 billion barrels of oil equivalent.
Crude oil discoveries worldwide from 2011 to 2018
(in billion barrels of oil)
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Statista. (January 9, 2020). Crude oil discoveries worldwide from 2011 to 2018 (in billion barrels of oil) [Graph]. In Statista. Retrieved May 21, 2022, from https://www.statista.com/statistics/1088739/global-oil-discovery-volume/
Statista. "Crude oil discoveries worldwide from 2011 to 2018 (in billion barrels of oil)." Chart. January 9, 2020. Statista. Accessed May 21, 2022. https://www.statista.com/statistics/1088739/global-oil-discovery-volume/
Statista. (2020). Crude oil discoveries worldwide from 2011 to 2018 (in billion barrels of oil). Statista. Statista Inc.. Accessed: May 21, 2022. https://www.statista.com/statistics/1088739/global-oil-discovery-volume/
Statista. "Crude Oil Discoveries Worldwide from 2011 to 2018 (in Billion Barrels of Oil)." Statista, Statista Inc., 9 Jan 2020, https://www.statista.com/statistics/1088739/global-oil-discovery-volume/
Statista, Crude oil discoveries worldwide from 2011 to 2018 (in billion barrels of oil) Statista, https://www.statista.com/statistics/1088739/global-oil-discovery-volume/ (last visited May 21, 2022)
