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15 countries with biggest oil reserves

Last updated on: October 18, 2011 10:58 IST

15 countries with biggest oil reserves

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Big movements in the price of oil can have significant impact on the economy, and although the commodity is off its all-time highs, countries with the most oil within their borders are set to benefit as demand for crude continues to rise.

As of 2010, the US government estimates that the world has proved reserves in the neighbourhood of 1.35 trillion barrels; the net amount of oil fields that have been identified as having a reasonable certainty of recovery.

Labelling subterranean oil "proved" reserves takes into consideration both the logistic feasibility, political and economic conditions surrounding the oil's physical extraction.

With the most recent data from the Energy Information Administration, here are the countries with the biggest proved oil reserves.

Click NEXT to see the 15 countries with biggest oil reserves...


Image: World has proven reserves of 1.35 trillion barrels.

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1. Saudi Arabia

Proven oil reserves: 259.9 billion barrels

Proportion of world total: 19.20 per cent

Total oil production: 9.76 million barrels

Consumption: 2.43 million barrels

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Image: Saudi Arabia has proven oil reserves of 259.9 billion barrels.

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2. Canada

Proven oil reserves: 175.2 billion barrels

Proportion of world total: 12.94 per cent

Total oil production: 3.29 million barrels

Consumption: 2.15 million barrels


Image: Canada's consumption is 2.15 million barrels.

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3. Iran

Proven oil reserves: 137.6 billion barrels

Proportion of world total: 10.16 per cent

Total oil production: 4.18 million barrels

Consumption: 1.69 million barrels

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Image: Iran has proven reserves of 137.6 billion barrels.

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4. Iraq

Proven oil reserves: 115 billion barrels

Proportion of world total: 8.5 per cent

Total oil production: 2.4 million barrels

Consumption: 636,000 barrels

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Image: Iraq's proportion of world total is 8.5 per cent.

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5. Kuwait

Proven oil reserves: 101.5 billion barrels

Proportion of world total: 7.5 per cent

Total oil production: 2.5 million barrels

Consumption: 372,000 barrels

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Image: Kuwait has total oil production of 2.5 million barrels.

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6. Venezuela

Proven oil reserves: 99.4 billion barrels

Proportion of world total: 7.34 per cent

Total oil production: 2.47 million barrels

Consumption: 723,000 barrels

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Image: Venezuela has a consumption of 723,000 barrels.

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7. The United Arab Emirates

Proven oil reserves: 97.8 billion barrels

Proportion of world total: 7.22 per cent

Total oil production: 2.79 million barrels

Consumption: 492,000 barrels

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Image: The UAE has proven reserves of 97.8 billion barrels.

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8. Russia

Proven oil reserves: 60 billion barrels

Proportion of world total: 4.43 per cent

Total oil production: 9.93 million barrels

Consumption: 2.74 million barrels

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Image: Russia has a consumption of 2.74 million barrels.

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9. Libya

Proven oil reserves: 44.3 billion barrels

Proportion of world total: 3.27 per cent

Total oil production: 1.79 million barrels

Consumption: 264,000 barrels

(These figures are based on data available before the political unrest in the country)

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Image: Libya has proven reserves of 44.3 billion barrels.

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10. Nigeria

Proven oil reserves: 37.2 billion barrels

Proportion of world total: 2.75 per cent

Total oil production: 2.21 million barrels

Consumption: 272,000 barrels

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Image: Nigeria's proportion of world total is 2.75 per cent.

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11. Kazakhstan

Proven oil reserves: 30 billion barrels

Proportion of world total: 2.22 per cent

Total oil production: 1.54 million barrels

Consumption: 241,000 barrels

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Image: Kazakhstan has a consumption of 241,000 barrels.

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12. Qatar

Proven oil reserves: 25.4 billion barrels

Proportion of world total: 1.88 per cent

Total oil production: 1.21 million barrels

Consumption: 147,000 barrels

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Image: Qatar has proven oil reserves of 25.4 billion barrels.

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13. China

Proven oil reserves: 20.4 billion barrels

Proportion of world total: 1.51 per cent

Total oil production: 3.99 million barrels

Consumption: 8.32 million barrels

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Image: China's proportion of world total is 1.51 per cent.

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14. United States

Proven oil reserves: 19.2 billion barrels

Proportion of world total: 1.42 per cent

Total oil production: 9.14 million barrels

Consumption: 18.81 million barrels

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Image: The US has proven oil reserves of 19.2 billion barrels.

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15. Brazil

Proven oil reserves: 11.65 billion barrels

Proportion of world total: 0.95 per cent

Total oil production: 2.57 million barrels

Consumption: 2.52 million barrels


Image: Brazil's proportion of world total is 0.95 per cent.

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