The U.S. holds more oil reserves than anyone else in the world, including Saudi Arabia, Russia, and Venezuela.
That conclusion comes from a new independent estimate from Rystad Energy, a Norwegian consultancy. Rystad estimates that the U.S. holds 264 billion barrels of oil, more than half of which is located in shale. That total exceeds the 256 billion barrels found in Russia, and the 212 billion barrels located in Saudi Arabia.
http://oilprice.com/Energy/Energy-General/US-Has-Worlds-Largest-Oil-Reserves.html
Rystad has always had a new client agenda.
Look, this is not rocket science. https://en.wikipedia.org/wiki/Oil_reserves
Now I’m posting that link mostly to educate you about definitions. “Oil Reserves” is not an absolute measure. There are “Resources”. There are 1P Reserves, 2P Reserves and outright Proven Reserves.
The Reserves number can increase and decrease with price, too. If the price is too low, oil doesn’t come up and therefore doesn’t “exist”. OTOH, not all oil will ever come up, at any price, whether it exists or not.
Oil is not a giant lake or reservoir or ocean under some piece of ground. It is in the pores of rock. It may be in a pore of Coke can size, but seperated from the next pore by 100s of feet of rock. No one will drill a hole for a Coke can volume of oil, more or less at any price. So that bit of oil is never going to come up.
Anyway, the numbers are what is in that chart. The US has proven reserves of 26 billion barrels. “Proven Reserves” and note that in 2012 the price was over $100, vs $46 today. At about 9.5 million barrels/day flow, that’s 3.5 billion barrels/year. 8ish years (though more will be found during those 8 years, maybe a few hundred million new barrels per year over 8 yrs).