Reserves & production Infrastructure Trade & prices Economic impact & companies The most important statistics Global conventional oil reserves 2022, by country Global oil production 1998-2023 Global oil production 2023, by country Discover Statista Statista Search Statista Search Need help with using...
Venezuela has been listed as the leader on the list of largest oil reserves by country, with reserves estimated at 303.8 billion barrels. However, most of their oil is offshore or deep underground, making it hard to reach. It is also dense oil, which makes it harder to refine into usable...
Oil reserves are an estimate of the amount of crude oil located in a particular economic region with the potential of being extracted. The oil industry estimates that there are 1.73 trillion barrels of oil reserves in the world. In the United States, the Strategic Petroleum Reserve is an emerg...
The European Economic Area, as well as Eastern European countries, also account for a high level of imports, as Russia is a major producer and exporter of oil, home to the largestproved oil reserves in Europe and Eurasia. Outside of Russia and former Soviet Union (FSU) countries, Norway ...
Another lens to look at regional production is through OPEC members, which control about 35% of the world’s oil output and about 70% of theworld’s oil reserves. When taking into account the group of 10 oil exporting countries OPEC has relationships with, known as OPEC+, the share of oi...
However, natural resource endowment may also bring challenges associated with the volatility of global oil prices, uncertainty with natural resource reserves; the resource curse discussed earlier, political risks, inequality, etc. As we can see from Fig. 3, GDP per capita in all these three ...
Effects of Global Oil Price on Exchange Rate, Trade Balance, and Reserves in Nigeria: A Frequency Domain Causality Approach. J. Risk Financ. Manag. 2019, 12, 43. [Google Scholar] [CrossRef] [Green Version] Musau, A.; Veka, S. Crude oil trade and current account deficits: Replication ...
The Most Oil Reserves by Country Given that oil will continue to be dominant in the energy mix for the short and medium term, which countries hold the most oil reserves? Today’s map comes from HowMuch.net and it uses data from the CIA World Factbook to resize countries based on the am...
The terminology and principles of classification of oil reserves and resources that are presently used in Russia and other countries of the former Soviet Union (FSU) differ from those in the Western countries. This difference stems from the specificity of the Soviet practice in exploration, assessmen...
Russian companies have not curtailed their exploration activities, but growth of the country's oil and gas reserves is expected to slow this year compared with 2022, Igor Shpurov, head of Russian State Commission for Mineral Reserves, told Energy Intelligence in an exclusive interview during the ...