Crude oil reserves as a share of worldwide reserves reached 0.788 % in 2017 in Brazil, according to EIA. This is 19.7 % less than in the previous year.
Historically, crude oil reserves as a share of worldwide reserves in Brazil reached an all time high of 0.981 % in 2016 and an all time low of 0.190 % in 1980. When compared to Brazil's main peers, crude oil reserves as a share of worldwide reserves in Bolivia amounted to 0.013 %, 0.029 % in Peru and 18.2 % in Venezuela in 2017.
Brazil has been ranked 15th within the group of 98 countries we follow in terms of crude oil reserves as a share of worldwide reserves, 3 places above the position seen 10 years ago.
Proved reserves are estimated quantities of energy sources that the analysis of geological and engineering data demonstrates with reasonable certainty are recoverable under existing economic and operating conditions.