Try our corporate solution for free!
(212) 419-8286

Proved oil reserves share by country 2019

The Middle East has the highest distribution of proved oil reserves of any region in the world, followed by Central and South America. The Middle East and South America are home to the two countries with the highest proven oil reserves worldwide: Venezuela and Saudi Arabia.

The regional distribution shifts

In the past three decades, the Middle East’s share of global oil reserves had dropped from over 60 percent in 1992 to 48.1 percent in 2019. This was mainly due to greater reserves discovered in the Americas. By 2012, Central and South America’s share had more than doubled and has remained just under 20 percent in the years since.

Oil reserves in Venezuela

Venezuela and Saudi Arabia are among the founding members of OPEC, an organization currently comprised of 14 nations that produce just over 40 percent of total crude oil globally. In 2009, Venezuela confirmed significant oil discoveries, and in the span of just a few years, Central and South American proved oil reserves rose from less than 20 to around 48 billion metric tons. Venezuela announced in 2011 that its proven oil reserves had surpassed Saudi Arabia as the largest in the world.

Distribution of proved oil reserves worldwide in select years from 1992 to 2019, by region

Exclusive Premium statistic

You need a Single Account for unlimited access.

  • Full access to 1m statistics

  • Incl. source references

  • Available to download in PNG, PDF, XLS format

Single Account

$39 $59 per month *
in the first 12 months
33% discount until March 31st
*Duration: 12 months, billed annually, single license

Access to this and all other statistics on 80,000 topics from

$468 / Year
$708 / Year

Show detailed source information?
Register for free
Already a member?
Log in

Release date

June 2020



Survey time period

1992 to 2019

Supplementary notes

Reserves include gas condensate and natural gas liquids (NGLs) as well as crude oil.
Editions of the report prior to 2018 named the region as Europe and Eurasia, whereas the 2018 edition of the report listed Europe and CIS separately. The 2018 and 2019 figures for these two regions have therefore have been added together. CIS is an abbreviation for the Commonwealth of Independent States.
Figures prior to 2019 are taken from previous editions of BP's statistical reviews.

Open this statistic in...
Statista Accounts: Access All Statistics. Starting from $468 / Year
Basic Account
Get to know the platform

You only have access to basic statistics.
This statistic is not included in your account.

Single Account
The ideal entry-level account for individual users
  • Instant access to 1m statistics
  • Download in XLS, PDF & PNG format
  • Detailed references
$59 $39 / Month *
in the first 12 months
Corporate Account
Full access

Corporate solution including all features.

* Prices do not include sales tax.

Statistics on "Oil industry worldwide"

Statista Accounts: Access All Statistics. Starting from $468 / Year
Learn more about how Statista can support your business.