Global oil reserves by region 1960-2023

Published by Statista Research Department, Jul 25, 2024

The Middle East holds approximately 871 billion barrels of proved crude oil reserves as of 2023. This was close to five times the amount known in 1960. Proved oil reserves are taken to be those quantities where geological and engineering assessments indicate they may be recovered with relative certainty.

Proved crude oil reserves worldwide in 1960 and 2023, by region (in billion barrels)

Characteristic19602023
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Showing entries 1 to 12 (12 entries in total)
Statistic: Proved crude oil reserves worldwide in 1960 and 2023, by region (in billion barrels)

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Release date

2024

Region

Worldwide

Survey time period

1960 and 2023

Supplementary notes

Does not include Canada's oil sands.

* Included under Russia in 1960.

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