The Middle East accounts for nearly half of proved oil reserves worldwide, with approximately 836 billion barrels located in the region in 2020. Meanwhile, the Americas held reserves adding up to more than 560 billion barrels that year. According to the source, oil reserves are 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.
Proved oil reserves worldwide from 1992 to 2020, by region (in billion barrels)
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BP. (July 8, 2021). Proved oil reserves worldwide from 1992 to 2020, by region (in billion barrels) [Graph]. In Statista. Retrieved May 22, 2022, from https://www.statista.com/statistics/271614/oil-reserves-by-region/
BP. "Proved oil reserves worldwide from 1992 to 2020, by region (in billion barrels)." Chart. July 8, 2021. Statista. Accessed May 22, 2022. https://www.statista.com/statistics/271614/oil-reserves-by-region/
BP. (2021). Proved oil reserves worldwide from 1992 to 2020, by region (in billion barrels). Statista. Statista Inc.. Accessed: May 22, 2022. https://www.statista.com/statistics/271614/oil-reserves-by-region/
BP. "Proved Oil Reserves Worldwide from 1992 to 2020, by Region (in Billion Barrels)." Statista, Statista Inc., 8 Jul 2021, https://www.statista.com/statistics/271614/oil-reserves-by-region/
BP, Proved oil reserves worldwide from 1992 to 2020, by region (in billion barrels) Statista, https://www.statista.com/statistics/271614/oil-reserves-by-region/ (last visited May 22, 2022)