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Countries with greatest recoverable oil reserves by reserve category 2020

Published by Jessica Aizarani, Jan 31, 2023
Saudi Arabia's proved oil reserves amount to some 102 billion barrels, according to conservative estimates. Taking into account risked prospective resources in yet undiscovered fields and contingent resources in discoveries, recoverable reserves in Saudi Arabia could be as high as 299 billion barrels. This compares to proved reserves of 34 billion barrels in the United States.

Volume of global recoverable oil reserves by country and reserve category as of 2020 (in billion barrels)

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Release date

June 2020

Region

Worldwide

Survey time period

2020

Supplementary notes

Reserve categories as follows:
1P=Proved reserves (conservative estimate);
2P=proved and probable reserves (most likely estimate);
2PC=proved and probable reserves plus mean contingent recoverable resources;
2PCX=most likely estimate for existing fields, contingent resources in discoveries, risked prospective resources in yet undiscovered fields.

** Data for United States, Brazil, China, and Mexico closely reflects official estimates.

*** Data for Russia, Kazakhstan, and Qatar closely reflects official estimates.

**** Data for Saudi Arabia, Iraq, UAE, Kuwait and Nigeria closely reflect official estimates; whereas data for Canada, Iran and Venezuela was lower than official estimates.

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