Crude oil reserves as a share of worldwide reserves reached 2.93 % in 2017 in Libya, according to EIA. This is the same as in the previous year.
Historically, crude oil reserves as a share of worldwide reserves in Libya reached an all time high of 3.65 % in 1980 and an all time low of 2.28 % in 1990. When compared to Libya's main peers, crude oil reserves as a share of worldwide reserves in Algeria amounted to 0.739 %, 0.091 % in Chad, 0.267 % in Egypt and 0.026 % in Tunisia in 2017.
Libya has been ranked 10th within the group of 98 countries we follow in terms of crude oil reserves as a share of worldwide reserves.
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.