Total world reserves are estimated by US EIA (Energy Information Administration) at a low 1,143, an intermediate 1,238 and a high 1,332 billion barrels. Middle East owns 56% to 63% of world reserves (EIA used 3rd party sources as indicated in the graph) - (see Oil prices up & reserves down).
Recent Estimates of World Proven Reserves of Oil | |||
Region |
BP Statistical Review |
Oil & Gas Journal |
World Oil |
| Year-End 2007 | 1 Jan 2008 | Year-End 2006 | |
| Africa | 117.48 | 114.84 | 111.66 |
| Asia & Oceania | 40.85 | 34.35 | 35.97 |
| Central & South America | 111.21 | 109.86 | 77.11 |
| Eurasia | 128.15 | 98.89 | 123.36 |
| Europe | 15.57 | 14.27 | 14.53 |
| Middle East | 755.33 | 748.29 | 722.51 |
| North America | 69.3 | 211.21 | 58.22 |
| World Total | 1,237.876 | 1,331.699 | 1,143.355 |
Sources: see Sources of data
