How Much Oil Is Left On Earth?

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Around the world, over 34 billion barrels of oil are used every year. At this rate of consumption, how much oil do we have left?

Learn More:
The world has 53.3 years of oil left
http://www.usatoday.com/story/money/business/2014/06/28/the-world-was-533-years-of-oil-left/11528999/
“BP (ticker BP ) has provided an intriguing update to its global oil reserves estimate in the company’s latest yearly review of energy statistics.”

OPEC share of world crude oil reserves, 2014
http://www.opec.org/opec_web/en/data_graphs/330.htm
“According to current estimates, more than 80% of the world’s proven oil reserves are located in OPEC Member Countries, with the bulk of OPEC oil reserves in the Middle East, amounting to around 66% of the OPEC total.”

China Peak Oil: 2015 Is the Year
http://thediplomat.com/2015/07/china-peak-oil-2015-is-the-year/
“Intense focus on the North American shale boom, Saudi Arabia, and ISIS obscures an important emerging energy trend: China’s oil production is peaking.”

PDVSA says Venezuela oil exports at 2.4-2.5 million barrels per day
http://www.reuters.com/article/2015/04/20/us-venezuela-pdvsa-production-idUSKBN0NB1NF20150420
“OPEC member Venezuela is currently exporting between 2.4-2.5 million barrels per day from national crude production of around 2.85 million, the head of state oil company PDVSA said.”

Music Track Courtesy of APM Music: “Concentration”

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