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The ratio of reserves to production gives a relative measure of the resources available in different oil producing countries. Assuming 2011 crude oil production rates and holding reserves constant, the reserves in Venezuela would last another 258 years, while Canada's reserves would last 165 years and the United States reserves would last 11 years. Saudi Arabia, which held the largest reserves, also produced a significant amount of crude oil in 2011, thus the reserve to production ratio was 76 years. Please note that these ratios do not take into account undiscovered oil or unconventional resources, which may extend the timeframes; nor do they take into account future increased demand for crude oil, which may shorten the timeframes.
Crude Oil Reserve to Production Ratio in the Top 20 Oil Producing Countries
Note: Reserve to Production Ratio assumes 2011 production rates and holds reserves constant.
|Country||Reserve to Production Ratio
(Number of Years of Known Crude Oil
Supply Assuming 2011 Reserves
and Production Rates)
|United Arab Emirates||100|
|Source: Energy Information Administration, International Energy Statistics, 2011 reserves and 2011 production queried on March 28, 2013.|