Oil in the World

Oil Production in the World

Distribution of the Proved Oil Reserves in the World
CountryReserves in 1991Reserves in 2001Reserves in 2013Share in Reserves of  2013

Venezuela

62.6

77.7

298.3

17.7%

S.Arabia

260.9

262.7

265.9

15.8%

Canada

40.1

180.9

174.3

10.3%

Iran

92.9

99.1

157

9.4%

Iraq

100.0

115.0

143.1

8.9%

Kuwait

96.5

96.5

101.5

6%

UAE

98.1

97.8

97.8

5.8%

Russia

---

73.0

93

5.5%

Libya

22.8

36.0

48.5

2.9%

Nigeria

20.0

31.5

37.1

2.2%

USA

32.1

30.4

44.2

2.6%

Kazakhstan

---

5.4

30

1.8%

Qatar

3.0

16.8

25.1

1.5%

Other

203.7

144.6

163.9

9.8%

Total

1,032.7

1,267.4

1,652.6

100.0%

(*) Reserve values are in billion barrels.

 

 

Spot Crude Oil Prices (1975 – 2014)
YearDubaiBrentNigerian ForcadosWest Texas Intermediate

1975

10.70

---

---

---

1980

35.69

36.83

36.98

37.96

1985

27.53

27.56

27.75

27.98

1990

20.45

23.73

23.85

24.50

1995

16.10

17.02

17.26

18.42

2000

26.20

28.50

28.42

30.37

2005

49.35

54.52

55.69

56.59

2006

61.50

65.14

67.07

66.02

2007

68.19

72.39

74.48

72.20

2011

106.18

111.26

113.65

95.04

2012

109.08

111.67

114.21

94.13

2013

105.47

108.66

111.95

97.99

(*) Oil prices values are in US Dollars per barrel.
Source: BP Statistical Review of World Energy – June 2008 and World Energy Outlook 2007