Definition: This entry is the stock of proved reserves of crude oil in barrels (bbl). Proved reserves are those quantities of petroleum which, by analysis of geological and engineering data, can be estimated with a high degree of confidence to be commercially recoverable from a given date forward, from known reservoirs and under current economic conditions.
Source: CIA World Factbook - Unless otherwise noted, information in this page is accurate as of January 1, 2020
See also: Oil - proved reserves mapRelated News
Global Oil and Gas Proved Reserves Increase in 2021
Institute for Energy Research - 6/22/2022 6:59:00 PM
According to the Energy Information Administration (EIA), annual financial reports by 119 publicly traded exploration and production companies show
Total Global Recoverable Oil Reserves Are Falling At An Alarming Rate
Crude Oil Prices - 7/3/2022 7:00:00 PM
New research from Rystad Energy shows a sizeable drop in global recoverable oil reserves in 2022, a situation that could have serious consequences for energy security
Foreign Reserves Down $2.03bn as Crude Oil Price Appreciates by 67.02% in Five Months
This Day - 6/29/2022 12:00:00 AM
“With the recent efforts of the government to fight oil theft and pipeline vandalism in the country, we may likely see a slight improvement in the country’s foreign reserves in Q2 2022.
Oil rises more than 2% as supply outages outweigh recession fears
Reuters - 7/1/2022 6:29:00 PM
Oil prices gained more than 2% on Friday as supply outages in Libya and expected shutdowns in Norway outweighed expectations that an economic slowdown could dent demand.
DPR: Nigeria to Run out of Oil in 52 Years
This Day - 6/27/2022 12:00:00 AM
To grow the country’s oil reserves, DPR stated that in 2019, it would engage oil exploration and production companies in Nigeria on maturation of proved plus probable plus possible (P3 ...
‘A Whole Lot of Truth’ (and Some Misleading Info) About Gas Prices
Snopes.com - 6/29/2022 2:38:00 PM
In June 2022, a piece of text that supposedly provided “a whole lot of truth about gas prices” was copied and pasted across social media. The text was frequently attributed to a “production ...
Venezuela’s Economy Seen Growing Most in 15 Years as Oil Flows
Yahoo Finance - 6/30/2022 8:40:00 AM
Venezuela’s economy is forecast to expand at its fastest pace in 15 years, marking a rebound for a country that recently emerged from the deepest recession in Latin America. Most Read from BloombergDe
Top 10 Oil and Gas Stocks to Invest In
Insider Monkey - 7/1/2022 1:19:00 PM
However, vaccine rollouts and subsequent lifting of lockdowns proved to be a boon for the oil and gas industry ... the lowest-cost and largest reserves in the world. But because natural gas ...
OPEC Releases Annual Flagship Publication in Vienna
vindobona - 6/28/2022 2:28:00 PM
This week, the Organisation of Petroleum Exporting Countries (OPEC) presented its Annual Statistical Bulletin (ASB) 2022. This report, which presents a
Elvira Nabiullina stuns the world
Vanguard - 7/2/2022 7:43:00 AM
By Tony Eluemunor On April 8, 2022, the U.S. dollar was valued at about 80 Russian rubles, roughly the same exchange rate before Russia invaded Ukraine
