Oil Reserves in Canada

Oil Reserves in Canada


Canada has the third-largest oil reserves of any country in the world after Saudi Arabia and Venezuela.


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The volatility in oil prices over the past decade has created plenty of concern for businesspeople, national governments, and global policymakers alike. With such uncertainty in pricing, coupled with environmental concerns as our world's appetite for fossil fuels grows, the questions of whether there are enough petroleum oil reserves to satisfy demand and what the consequences of its extraction will be, have never been more pertinent.

(millions of barrels)
1 Venezuela 300,878
2 Saudi Arabia 266,455
3 Canada 169,709
4 Iran 158,400
5 Iraq 142,503
6 Kuwait 101,500
7 United Arab Emirates 97,800
8 Russia 80,000
9 Libya 48,363
10 United States 39,230
11 Nigeria 37,062
12 Kazakhstan 30,000
13 China 25,620
14 Qatar 25,244
15 Brazil 12,999
16 Algeria 12,200
17 Angola 8,273
18 Ecuador 8,273
19 Mexico 7,640
20 Azerbaijan 7,000