According to standard industry statistics (BP and OPEC), the globally known proved reserves of both oil and natural gas are now more than double what they were around 1980.
We have compared data from two sources and both show the same general trends.
(Units used: gbbl means billion barrels of oil, and tcm means trillion cubic metres of natural gas)
Source 1: BP Statistical Review of World Energy
- Oil reserves increased 2.5 times between 1980 and 2020, from 683 to 1732 gbbl.
- Gas reserves increased 2.7 times between 1980 and 2020, from 71 to 188 tcm.
Source 2: OPEC Annual Statistical Bulletin
- Oil reserves increased 2.4 times between 1980 and 2023, from 644 to 1570 gbbl.
- Gas reserves increased 2.4 times between 1980 and 2023, from 85 to 206 tcm.
