Proven oil 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.

Some statistics on this page are disputed and controversial—different sources (OPEC, CIA World Factbook, oil companies) give different figures. Some of the differences reflect different types of oil included. Different estimates may or may not include oil shale, mined oil sands or natural gas liquids.

Because proven reserves include oil recoverable under current economic conditions, nations may see large increases in proven reserves when known, but previously uneconomic deposits become economic to develop. In this way, Canada's proven reserves increased suddenly in 2003 when the oil sands of Alberta were seen to be economically viable. Similarly, Venezuela's proven reserves jumped in the late 2000s when the heavy oil of the Orinoco Belt was judged economic.

Sources sometimes differ on the volume of proven oil reserves. The differences sometimes result from different classes of oil included, and sometimes result from different definitions of proven. (The data below does not seem to include shale oil and other "unconventional" sources of oil such as tar sands. For instance, North America has over 3 trillion barrels of shale oil reserves,^{[citation needed]} and the majority of oil produced in the USA is from shale, leading to the paradoxical data below that the USA will finish all its oil at current production in 11 years, because the production is mostly from shale but the reserves cited omit all shale reserves.)

Comparison of proven oil reserves from some widely used sources (billions of barrels, as of 31 Dec 2014)

Reserves amounts are listed in millions of barrels. .00

Proven reserves (millions of barrels)

Country	US EIA [5]	OPEC [6]	BP [7]	Others	Oil production December 2023 (bbl/day)[8]	Years of production in reserve
Venezuela *(OPEC)	304,000.00	303,220	303,800		770,000	1,000
Saudi Arabia *(OPEC)	259,000.00	266,260	297,600		8,950,000	65.4
Iran *(OPEC)	209,000.00	208,600	155,600		4,084,000	163
Canada *	170,000.00	4,421	172,200	171,000	4,971,000	82
Iraq *(OPEC)	145,000.00	147,223	145,000		4,375,000	94.8
Kuwait *(OPEC)	102,000.00	104,000	104,000		2,644,000	103
United Arab Emirates *(OPEC)	98,000.00	113,000	111,000		3,300,000	74
Russia *	80,000.00	99,000	107,800		10,126,000
Libya *(OPEC)	48,000.00	74,363	78,400		1,248,000	110
United States *	48,300.00	32,773	68,800	43,629	13,295,000	6.3
Nigeria *(OPEC)	37,000.00	37,453	37,100		1,573,000	60
Kazakhstan *	30,000.00	30,000	30,000		1,897,000	40
China *	26,000.00	27,000	26,000		4,172,000	16
Qatar *	25,000.00	25,244	25,244		1,322,000	38
Brazil *	13,000.00	12,634	13,000	16,848	3,585,000	12
Algeria *(OPEC)	12,000.00	12,200	12,200		1,160,000	24
Guyana *	11,000.00			11,000	555,000	200
Ecuador	8,300.00	8,273	8,000		486,000	48
Norway *	8,100.00	6,376	8,500		1,894,000	11
Angola *	7,800.00	8,384	12,700		1,235,000	18
Azerbaijan *	7,000.00	7,000	7,000		601,000	30
Mexico *	5,800.00	6,537	10,800	9.700	1,903,000	8.1
Oman *	5,400.00	5,373	5,300		1,040,000	15
India *	4,600.00	4,495	5,680	4,409	589,000	14
Vietnam *	4,400.00	4,400	4,000		165,000	59
South Sudan	3,800.00				160,000	68
Malaysia *	3,600.00	3,600	3,600	5,542	525,000	19
Egypt *	3,300.00	4,400	3,500		559,000	15
Yemen *	3,000.00		3,000		15,000	100
Congo(OPEC)	2,900.00	1,811	2,900		253,000	29
United Kingdom *	2,500.00	2,069	2,800	2,618	647,000	7.4
Syria *	2,500.00	2,500	2,500		95,000	160
Uganda *	2,500.00
Argentina *	2,500.00	2,162	2,400	16,000	677,000	9.8
Indonesia *	2,500.00	3,310	3,600	3,497	605,000	8.0
Australia *	2,400.00	3,985	4,000	4,002	395,000	26
Colombia *	2,000.00	1,665	2,300		787,000	7
Gabon *(OPEC)	2,000.00	2,000	2,000		220,000	30
Chad *	1,500.00		1,500		126,000	43
Turkey *	1,400.00			1350	89,000	10
Sudan *	1,300.00	5,000	1,500		71,000	56
Brunei *	1,100.00	1,100	1,100		100,000	32
Equatorial Guinea *(OPEC)	1,100.00	1,100	1,100		79,000	21
Peru *	900.00		1,400	1,489	44,000	20
Ghana *	700.00				175,000	10
Romania *	600.00		600		57,000	20
Turkmenistan *	600.00	600	600		191,000	7
Uzbekistan *	600.00	594	600		32,000	40
Pakistan *	500.00			236	83,000	10
Italy *	500.00		600	595	119,000	9
Denmark *	400.00	439	600	550	58,000	20
Tunisia *	400.00		400		33,000	30
Ukraine *	400.00	395				20
Thailand *	300.00		400		136,000	2
Trinidad and Tobago *	200.00		700	830	54,000	7
Bolivia *	200.00			210	22,000	8
Cameroon *	200.00				49,000	8
Belarus *	200.00	198			29,000	20
Bahrain *	200.00				167,000	3
DR Congo	200.00				19,000	30
Papua New Guinea *	200.00			158	31,000	10
Albania *	200.00				14,000	30
Chile *	200.00				2,300	30
Niger *	200.00				6,000	40
Spain *	200.00				100	7
Myanmar *	100.00				7,100	30
Philippines	100.00				900	20
Netherlands	100.00			141	28,000	4
Cuba *	100.00			124	30,000	7
Germany *	100.00			229	32,000	2
Poland *	100.00			151	18,000	7
Ivory Coast *	100.00				29,000	9
Guatemala	86.00				6,000	20
Serbia *	77.00				13,000	12
Croatia *	71.00				10,000	12
France *	61.00				12,000	2.7
Japan *	44.00				3,500	1.2
New Zealand *	40.00				11,000	5
Kyrgyzstan *	40.00				6,200	200
Austria *	35.00				8,800	3.8
Georgia *	35.00				200	300
Bangladesh *	28.00				3,000	5.9
Mauritania *	20.00
Bulgaria *	15.00				1,000	6.7
Czech Republic *	15.00	15.0			1,400	4
South Africa *	15.00	15			1,000	0.39
Israel *	12.00			12	15,000	5.7
Hungary *	12.00			35	20,000	0.84
Lithuania *	12.00				700	3.7
Tajikistan *	12.00				300	100
Greece *	10.00				1,500	2
Slovakia *	9.00				100	4
Benin *	8.00
Belize *	6.00				800	10
Taiwan *	2.00				200	0.2
Barbados	1.00				1,000	5
Jordan *	1.00			1	100	9
World	1,703,000.00	1,535,773	1,750,600		8,29,39,300	50.06

* indicates "Oil reserves in COUNTRY or TERRITORY" or "Energy in COUNTRY or TERRITORY" links.

• List of countries by oil production
• List of countries by oil consumption
• List of countries by natural gas proven reserves