We and our partners process data to: Actively scan device characteristics for identification. I Accept Show Purposes. Your Money. Personal Finance. Your Practice. Popular Courses. Oil Guide to Investing in Oil Markets. Commodities Oil.
What Are Oil Reserves? Key Takeaways Oil reserves are the amount of crude oil a country or region has that can be reasonably extracted. The top three countries in the world by oil reserves are Venezuela, Saudi Arabia, and Canada. BP estimates show there are likely more than 1.
Compare Accounts. The offers that appear in this table are from partnerships from which Investopedia receives compensation.
This compensation may impact how and where listings appear. Investopedia does not include all offers available in the marketplace. What Is Peak Oil? Peak oil refers to a hypothetical point at which global crude oil production will hit its maximum rate, after which production will start to decline.
Read about petrodollar recycling and the history of the petrodollar. What Is a Reserves-to-Production Ratio? But politics aside, what happens if we just continue to use oil? Will we ever run out? There are a number of different ways to categorize oil, from proved reserves to those that are technically recoverable.
Furthermore, the production of oil depends on demand, and the development of technology. Vehicles get more and more efficient when it comes to consuming oil, while new technology such as electric cars or hybrids can take a bite out of use as well. When talking about oil, many statistics focus on proved reserves. Yearly global consumption in was about The trouble is, proved reserves only represent the oil that a given region can theoretically extract based on the infrastructure it has planned or in place.
The United States, for example, has Technically recoverable oil is also liable to greatly fluctuate in quantity.
In the U. That number has more than doubled despite rising production. Geological Survey predicts are there. Global refinery throughput dropped by 7. Refining capacity rose by just 0. As a result, global refinery utilization also fell dramatically by 8.
Explore data from the Statistical Review of World Energy online or download the app to your tablet or smartphone. The rich biodiversity of our planet is under threat. As part of our purpose — to reimagine energy for people and the planet — we are taking action to restore, maintain and enhance nature. Download the printed edition of the Statistical Review of World Energy, the launch presentation speech and slides and more. Site traffic information and cookies We use cookies to collect and analyse information on our site's performance and to enable the site to function.
Manage cookie preferences Agree. In , oil consumption dropped for the first time since by a massive 9. World oil production also fell for the first time since , by 6. On this page Oil consumption. Oil production.
0コメント