Oil Reserves

Oil Reserves
An estimate of the amount of crude oil located in a particular economic region. Oil reserves must have the potential of being extracted under current technological constraints. For example, if oil pools are located at unattainable depths, they would not be considered part of the nation's reserves.

Reserves are calculated based on a proven/probably basis.

Saudi Arabia, Kuwait, Iran, Iraq, Venezuela, Russia, Mexico and Canada are some of the world leaders in oil reserves. Canada has over 150 billion barrels of oil reserves, a large portion of which is concentrated in the Alberta oil sands. If the rate of technological improvement exceeds the rate of extraction, national oil reserves will increase.


Investment dictionary. . 2012.

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  • Oil reserves in Iran — Iran s Oil and Gas Fields and Infrastructures Oil reserves in Iran, according to its government, rank third largest in the world at approximately 150 billion barrels (24×10^9 m3) as of 2007, although it ranks second if Canadian reserves of… …   Wikipedia

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  • Oil reserves in Russia — There are several different estimates of proven oil reserves in Russia. Most estimates include only Western Siberian reserves, exploited since the 1970s and supplying two thirds of Russian oil, and not potentially huge reserves elsewhere. In 2005 …   Wikipedia

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