The total volume of crude oil discoveries made worldwide in 2018 amounted to approximately 5.45 billion barrels of oil. Of that amount, North, Central, and South America accounted for 3.2 billion barrels, combined. The volume of oil discovered from 2015 onwards is notably smaller than the discoveries made in 2014 and in previous years due to decreased oil exploration as a result of the fall in oil prices that occurred.
Crude oil discoveries worldwide from 2011 to 2018, by region (in billion barrels of oil)
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Oil industry worldwideStatista. (January 9, 2020). Crude oil discoveries worldwide from 2011 to 2018, by region (in billion barrels of oil) [Graph]. In Statista. Retrieved June 01, 2024, from https://www.statista.com/statistics/1088780/global-oil-discovery-volume-by-region/
Statista. "Crude oil discoveries worldwide from 2011 to 2018, by region (in billion barrels of oil)." Chart. January 9, 2020. Statista. Accessed June 01, 2024. https://www.statista.com/statistics/1088780/global-oil-discovery-volume-by-region/
Statista. (2020). Crude oil discoveries worldwide from 2011 to 2018, by region (in billion barrels of oil). Statista. Statista Inc.. Accessed: June 01, 2024. https://www.statista.com/statistics/1088780/global-oil-discovery-volume-by-region/
Statista. "Crude Oil Discoveries Worldwide from 2011 to 2018, by Region (in Billion Barrels of Oil)." Statista, Statista Inc., 9 Jan 2020, https://www.statista.com/statistics/1088780/global-oil-discovery-volume-by-region/
Statista, Crude oil discoveries worldwide from 2011 to 2018, by region (in billion barrels of oil) Statista, https://www.statista.com/statistics/1088780/global-oil-discovery-volume-by-region/ (last visited June 01, 2024)
Crude oil discoveries worldwide from 2011 to 2018, by region (in billion barrels of oil) [Graph], Statista, January 9, 2020. [Online]. Available: https://www.statista.com/statistics/1088780/global-oil-discovery-volume-by-region/