Crude oil reserves in the world The total proven oil reserves in the world are 1803 billion barrels, and almost half of these reserves (ie 48.3%) are in the Middle East. In the infographic, the amount of oil reserves in different regions of the world is shown in billion barrels. Oil reserves in the Middle East are 871 billion barrels. Venezuela alone has 86% of the total reserves in Central and South America. On the other hand, 82% of North American oil reserves are in Canada. The developments in the Middle East caused major changes in the production and export of oil from this region and prices rose sharply.

Crude oil reserves in the world The total proven oil reserves in the world are 1803 billion barrels, and almost half of these reserves (ie 48.3%) are in the Middle East. In the infographic, the amount of oil reserves in different regions of the world is shown in billion barrels. Oil reserves in the Middle East are 871 billion barrels. Venezuela alone has 86% of the total reserves in Central and South America. On the other hand, 82% of North American oil reserves are in Canada. The developments in the Middle East caused major changes in the production and export of oil from this region and prices rose sharply.