OPEC's share of global crude oil reserves 2010-2023

Published by Statista Research Department, Jul 25, 2024

Since 2010, OPEC's share of global crude oil reserves remained relatively stable, standing at 79.1 percent in 2023. That same year, the average annual OPEC crude oil price was some 83 U.S. dollars per barrel. OPEC stands for the Organization of the Petroleum Exporting Countries and was established in Iraq in 1960.

OPEC's share of global crude oil reserves from 2010 to 2023

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Release date

2024

Region

Worldwide

Survey time period

2010 to 2023

Supplementary notes

Figures as of year-end. Revisions have been made throughout the time series. For some countries condensates are included.

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Reserves

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Prices

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Trade

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OPECOil industry worldwideOil refinery industry worldwideOil industry in the U.S.Oil rig industry worldwide
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