Crude Oil Reserve to Production Ratio

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.