Oil Reserves

AAA

DEFINITION of '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.

INVESTOPEDIA EXPLAINS 'Oil Reserves'

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.

RELATED TERMS
  1. Vagit Y. Alekperov

    The founder of major Russian oil company Lukoik. Lukoil began ...
  2. Crude Stockpiles

    Reserves of unrefined petroleum, measured in numbers of barrels. ...
  3. Oil Field

    A tract of land used for extracting petroleum, or crude oil, ...
  4. Oil Refinery

    An industrial plant that refines crude oil into petroleum products ...
  5. Proven Reserves

    After an oil exploration firm conducts a seismic survey on a ...
  6. Barrels Per Day - B/D

    A measure of oil output, represented by the number of barrels ...
Related Articles
  1. Oil: A Big Investment With Big Tax Breaks
    Investing Basics

    Oil: A Big Investment With Big Tax Breaks

  2. Oil And Gas Industry Primer
    Active Trading

    Oil And Gas Industry Primer

  3. Uncovering Oil And Gas Futures
    Active Trading

    Uncovering Oil And Gas Futures

  4. How To Identify A Micro-Cap Scam
    Personal Finance

    How To Identify A Micro-Cap Scam

comments powered by Disqus
Hot Definitions
  1. Ghosting

    An illegal practice whereby two or more market makers collectively attempt to influence and change the price of a stock. ...
  2. Elasticity

    A measure of a variable's sensitivity to a change in another variable. In economics, elasticity refers the degree to which ...
  3. Tangible Common Equity - TCE

    A measure of a company's capital, which is used to evaluate a financial institution's ability to deal with potential losses. ...
  4. Yield To Maturity (YTM)

    The rate of return anticipated on a bond if held until the maturity date. YTM is considered a long-term bond yield expressed ...
  5. Net Present Value Of Growth Opportunities - NPVGO

    A calculation of the net present value of all future cash flows involved with an additional acquisition, or potential acquisition. ...
  6. Gresham's Law

    A monetary principle stating that "bad money drives out good." In currency valuation, Gresham's Law states that if a new ...
Trading Center