The Arab Monetary discloses Iraq's proven reserves of oil
economic Last update 01/18/2022 | 11:43 AM
The Arab Monetary Fund announced that Iraq's share of the proven Arab oil reserves is 20.7%.
The Fund stated in the Unified Arab Economic Report that “92.7 percent of the Arab proven reserves of crude oil are concentrated in 5 Arab countries, namely
Saudi Arabia, which accounted for a share of 37.3 percent of the total reserves of Arab countries, followed by
Iraq with 20.7%, and
UAE, 13.7 percent, and
Libya 6.8 percent.
He added that "the reserves of the Arab countries constituted 55.7% of the global reserves of crude oil, while
the reserves of the non-Arab OPEC countries constituted 23.5 percent, the
reserves of the Commonwealth countries constituted 9.3 percent, and the
percentage of proven oil reserves in North America was 6.3 percent.
The reserve ratio in the North Sea was 0.8 percent, and in other countries it was 4.4 percent.
According to the report, “estimates of proven oil reserves at the global level slightly increased in 2021, to reach 1284.3 billion barrels, an increase of 2.6 percent compared to the levels of the previous year, and
for the Arab countries, the estimates stabilized at the same level achieved at the end of the previous year, which is 715.8 billion barrels.“. finished/25
So... Iraq has what percentage of current Global estimated proven oil?
0.207 x 0.557 = 11.53% of estimated global oil reserves
translated to Iraq's Reserves, Billions of Barrels
0.1153 x 1284.3 Billion barrels = 715.8 billion barrels x 0.207 = 148 Billion Barrels