Which Country Has Largest Oil Reserves?

# Country Oil Reserves (barrels) in 2016
1 Venezuela 299,953,000,000
2 Saudi Arabia 266,578,000,000
3 Canada 170,863,000,000
4 Iran 157,530,000,000

Which country has the most oil in 2021?

Country Crude Oil Production (thousands barrels per day) 2021 Population
United States 12108 332,915,073
Russia 10835 145,912,025
Saudi Arabia 9580 35,340,683
Iraq 4620 41,179,350

Where does the US rank in oil reserves?

possible and undiscovered), the United States is at the top of the list with 264 billion barrels of recoverable oil reserves, followed by Russia with 256 billion, Saudi Arabia with 212 billion, Canada with 167 billion, Iran with 143 billion, and Brazil with 120 billion (Table 1).

Who is the number 1 oil producing country?

Country Million barrels per day Share of world total
United States 18.60 20%
Saudi Arabia 10.82 11%
Russia 10.50 11%
Canada 5.26 6%

How much is Guyana oil reserves?

ExxonMobil on Wednesday said it made a discovery at Whiptail in the Stabroek Block offshore Guyana, pushing this country’s resource estimate pass the current amount of 9 billion barrels of oil equivalent.

Who owns the most oil in the world?

Venezuela has the largest amount of oil reserves in the world with 300.9 billion barrels. Saudi Arabia has the second-largest amount of oil reserves in the world with 266.5 billion barrels. Despite Venezuela’s large supply of natural resources, the country still struggles economically and its people are going hungry. You may also read,

Who got the most oil in world?

Venezuela has the largest oil reserves of any country in the world, with more than 300 billion barrels of proven reserves. Check the answer of

How long will US oil reserves last?

At our current consumption rate of about 20 million barrels a day, the Strategic Petroleum Reserve would last only 36 days if we were faced with a situation where the oil had to be released all at once (however, only 4.4 million barrels a day can be withdrawn, extending our supply to 165 days).

How much oil is left in the world?

The Organization for Petroleum Exporting Countries reports that there are 1.5 trillion barrels of crude oil reserves left in the world. These are proven reserves that are still capable of being extracted by commercial drilling. Read:

Where is the biggest oil field in the world?

The Ghawar oilfield is the largest oil field in the world. It’s located in Saudi Arabia in the Al Hasa Province. At 280 km long and 40 km wide, it covers a massive area of 11,000 square kilometers and is estimated at approximately 100 meters in thickness.

Who is the biggest exporter of oil?

  1. United States. Located in the Northern Hemisphere and bordered by Mexico and Canada, the United States is now the largest oil-exporting nation in the world. …
  2. Saudi Arabia. …
  3. Russia. …
  4. Canada. …
  5. China. …
  6. Iraq. …
  7. United Arab Emirates. …
  8. Brazil.

How much oil is left in the world 2021?

World Oil Reserves The world has proven reserves equivalent to 46.6 times its annual consumption levels. This means it has about 47 years of oil left (at current consumption levels and excluding unproven reserves).

How much oil is left in Saudi Arabia?

Oil Reserves in Saudi Arabia Saudi Arabia has proven reserves equivalent to 221.2 times its annual consumption. This means that, without Net Exports, there would be about 221 years of oil left (at current consumption levels and excluding unproven reserves).

What country has the most untapped oil?

Thanks to the shale oil boom, the US is now sitting on more oil reserves than Russia, which estimates as having 256 billion barrels of untapped oil. The next-richest countries in terms of oil after that are: Saud Arabia (212 billion), Canada (167 billion), Iran (143 billion) and Brazil (120 billion).

Does Venezuela has more oil than Saudi Arabia?

Venezuela is the leading country in terms of oil reserves, with over 304 billion barrels of oil beneath its surface. Saudi Arabia is a close second with 298 billion, and Canada is third with 170 billion barrels of oil reserves.

Does Guyana have oil reserves?

The potentially prolific Stabroek block spans 6.6 million acres offshore of Guyana. The latest find would add to the estimated recoverable reserves of more than 9 billion barrels of oil equivalent discovered within the block, according to the development