Oil reserves in Venezuela
Venezuela: Oil reserves was 48.30 billion cubic meters in 2021. ◆ Volatile
Oil reserves in Venezuela, 1980–2021
Source: U.S. Energy Information Administration (2022) – with major processing by Our World in Data. Measured in cubic meters.
Analysis
The most recent figure for oil reserves in Venezuela is 48.30 billion cubic meters, measured in 2021. That is the highest value across all 42 years on record.
Compared with earlier readings it is up 0.3% on the previous year and up 43.9% over ten years.
Over the whole period, oil reserves in Venezuela peaked at 48.30 billion cubic meters in 2021 and was at its lowest, 2.84 billion cubic meters, in 1980.
That places Venezuela 1st out of 216 countries with data for 2021, putting it in the top 10%.
The series is highly variable year to year, so single readings are best treated with caution.
Oil reserves in Venezuela, year by year
| Year | cubic meters | Change |
|---|---|---|
| 1980 | 2.84 billion cubic meters | — |
| 1981 | 2.85 billion cubic meters | +0.4% |
| 1982 | 3.23 billion cubic meters | +13.1% |
| 1983 | 3.42 billion cubic meters | +5.9% |
| 1984 | 3.95 billion cubic meters | +15.6% |
| 1985 | 4.11 billion cubic meters | +4.0% |
| 1986 | 4.07 billion cubic meters | -1.0% |
| 1987 | 3.97 billion cubic meters | -2.3% |
| 1988 | 8.95 billion cubic meters | +125.2% |
| 1989 | 9.23 billion cubic meters | +3.2% |
| 1990 | 9.30 billion cubic meters | +0.7% |
| 1991 | 9.39 billion cubic meters | +0.9% |
| 1992 | 9.40 billion cubic meters | +0.1% |
| 1993 | 9.96 billion cubic meters | +6.0% |
| 1994 | 10.07 billion cubic meters | +1.1% |
| 1995 | 10.25 billion cubic meters | +1.8% |
| 1996 | 10.25 billion cubic meters | +0.0% |
| 1997 | 10.31 billion cubic meters | +0.6% |
| 1998 | 11.39 billion cubic meters | +10.5% |
| 1999 | 11.54 billion cubic meters | +1.3% |
| 2000 | 11.54 billion cubic meters | +0.0% |
| 2001 | 12.22 billion cubic meters | +5.9% |
| 2002 | 12.35 billion cubic meters | +1.1% |
| 2003 | 12.37 billion cubic meters | +0.1% |
| 2004 | 12.37 billion cubic meters | +0.0% |
| 2005 | 12.28 billion cubic meters | -0.7% |
| 2006 | 12.68 billion cubic meters | +3.2% |
| 2007 | 12.72 billion cubic meters | +0.4% |
| 2008 | 13.84 billion cubic meters | +8.8% |
| 2009 | 15.80 billion cubic meters | +14.2% |
| 2010 | 15.80 billion cubic meters | +0.0% |
| 2011 | 33.57 billion cubic meters | +112.5% |
| 2012 | 33.57 billion cubic meters | +0.0% |
| 2013 | 47.31 billion cubic meters | +40.9% |
| 2014 | 47.34 billion cubic meters | +0.1% |
| 2015 | 47.43 billion cubic meters | +0.2% |
| 2016 | 47.69 billion cubic meters | +0.5% |
| 2017 | 47.84 billion cubic meters | +0.3% |
| 2018 | 48.05 billion cubic meters | +0.5% |
| 2019 | 48.14 billion cubic meters | +0.2% |
| 2020 | 48.14 billion cubic meters | +0.0% |
| 2021 | 48.30 billion cubic meters | +0.3% |
Biggest year-on-year movements
Years where Oil reserves in Venezuela changed far more than this series normally does. A large move can be a real event or a change in how the figure was measured — the source note below says who published it.
| Year | Change | From | To |
|---|---|---|---|
| 1988 | +125.2% | 3.97 billion cubic meters | 8.95 billion cubic meters |
| 2011 | +112.5% | 15.80 billion cubic meters | 33.57 billion cubic meters |
| 2013 | +40.9% | 33.57 billion cubic meters | 47.31 billion cubic meters |
Averages by decade
| Decade | Average | Lowest | Highest | Years |
|---|---|---|---|---|
| 1980s | 4.66 billion cubic meters | 2.84 billion cubic meters | 9.23 billion cubic meters | 10 |
| 1990s | 10.19 billion cubic meters | 9.30 billion cubic meters | 11.54 billion cubic meters | 10 |
| 2000s | 12.82 billion cubic meters | 11.54 billion cubic meters | 15.80 billion cubic meters | 10 |
| 2010s | 41.67 billion cubic meters | 15.80 billion cubic meters | 48.14 billion cubic meters | 10 |
| 2020s | 48.22 billion cubic meters | 48.14 billion cubic meters | 48.30 billion cubic meters | 2 |
Countries ranked near Venezuela
More energy & mining data for Venezuela
- Fossil fuel consumption by fuel, per unit of GDP 0 terawatt-hours per US$ of GDP (2025)
- Primary energy use, annual growth rate -1.48 % change on previous year (2025)
- Coal consumption, per capita 0 terawatt-hours per person (2025)
- Coal consumption, per unit of GDP 0 terawatt-hours per US$ of GDP (2025)
- Primary energy use, per unit of GDP 0 terawatt-hours per US$ of GDP (2025)
- Primary energy use, per capita 0 terawatt-hours per person (2025)
- Coal production, per capita 0 terawatt-hours per person (2025)
- Coal production, per unit of GDP 0 terawatt-hours per US$ of GDP (2025)
- Fossil fuel consumption by fuel, per capita 0 terawatt-hours per person (2025)
- Fuel imports 0.8% (2013)
Frequently asked questions
- What is oil reserves in Venezuela?
- Oil reserves in Venezuela was 48.30 billion cubic meters in 2021, according to U.S. Energy Information Administration (2022) – with major processing by Our World in Data.
- What is the highest oil reserves recorded in Venezuela?
- The highest recorded value was 48.30 billion cubic meters in 2021.
- What is the lowest oil reserves recorded in Venezuela?
- The lowest recorded value was 2.84 billion cubic meters in 1980.
- How does Venezuela rank for oil reserves?
- Venezuela ranks 1st out of 216 countries with data for 2021.
- Is oil reserves rising or falling in Venezuela?
- Over the last ten years it is up 43.9%. The long-run trend across the full record is volatile.
- Where does this Venezuela data come from?
- The figures come from U.S. Energy Information Administration (2022) – with major processing by Our World in Data, published as part of Oil reserves. Statizoid updates them automatically from the source API.
Download this data
CSV · JSON — 42 observations, free to reuse under CC BY 4.0 (Our World in Data).
About this data
Proved reserves, measured in cubic meters, are generally those quantities that can be recovered in the future from known reservoirs under existing economic and operating conditions, according to geological and engineering information. Includes crude oil and lease condensate.