From the vast oilfields of Venezuela to the sprawling boreal forests of Canada, our planet's natural resources tell a story of immense wealth, intense demand, and critical global significance.
Key Takeaways
- As of 2023, Venezuela holds the world's largest proven crude oil reserves at 303.8 billion barrels.
- Saudi Arabia produced 10.2 million barrels per day of crude oil in 2022, accounting for 12% of global production.
- The United States became the top crude oil producer in 2018 with output reaching 11.6 million barrels per day by 2022.
- Global proven natural gas reserves totaled 6,923 trillion cubic feet at end-2022.
- Russia possesses 37.4% of the world's proven natural gas reserves with 1,688 trillion cubic feet in 2022.
- The United States produced 1,036 billion cubic meters of natural gas in 2022, leading globally.
- Global coal reserves are estimated at 1.074 trillion tonnes as of 2022.
- United States holds 22.2% of world coal reserves with 238 billion tonnes in 2022.
- China produced 4.13 billion tonnes of coal in 2022, over half of global output.
- World iron ore reserves total 190 billion tonnes as of 2022.
- Brazil holds 34 billion tonnes of iron ore reserves, 18% of global total in 2023.
- Australia produced 900 million tonnes of iron ore in 2022-23.
- Global forest area covers 4.06 billion hectares, 31% of land surface in 2020.
- Brazil's Amazon rainforest spans 5.5 million square kilometers, holding 60% of Amazon basin forests.
- Global annual deforestation rate was 10 million hectares from 2010-2020.
The world's largest oil and natural gas reserves fuel substantial production by major nations.
Coal
- Global coal reserves are estimated at 1.074 trillion tonnes as of 2022.
- United States holds 22.2% of world coal reserves with 238 billion tonnes in 2022.
- China produced 4.13 billion tonnes of coal in 2022, over half of global output.
- India consumed 963 million tonnes of coal in 2022.
- Global coal consumption reached 8.25 billion tonnes in 2022.
- Australia's coal exports were 383 million tonnes in 2022.
- Indonesia produced 617 million tonnes of coal in 2022.
- Russia's coal output was 434 million tonnes in 2022.
- South Africa's coal reserves are 9.9 billion tonnes as of 2023.
- Global coal-fired power generation was 10,000 TWh in 2022.
- Poland produced 52 million tonnes of coal in 2022.
- US coal production fell to 577 million short tons in 2022.
- Germany's coal phase-out targets closure of all plants by 2038.
- Kazakhstan exported 118 million tonnes of coal in 2022.
- Mongolia's coal production surged to 140 million tonnes in 2022.
- Global metallurgical coal trade was 297 million tonnes in 2022.
- Vietnam imported 92 million tonnes of coal in 2022.
- Colombia exported 53 million tonnes of coal in 2022.
- US coal reserves recoverable by surface mining are 265 billion short tons.
- China's coal imports hit 474 million tonnes in 2022.
- Global anthracite coal reserves are concentrated in Vietnam with 3.5 billion tonnes.
- India's coal reserves are 378 billion tonnes as of 2023.
- Global sub-bituminous coal production led by Indonesia at 200 million tonnes in 2022.
Coal Interpretation
Despite America sitting on a quarter of the world's coal, China is doing the heavy lifting—and burning—to power the planet, proving that possession is not nine-tenths of the consumption law.
Forests Water Renewables
- Global forest area covers 4.06 billion hectares, 31% of land surface in 2020.
- Brazil's Amazon rainforest spans 5.5 million square kilometers, holding 60% of Amazon basin forests.
- Global annual deforestation rate was 10 million hectares from 2010-2020.
- Canada's boreal forest covers 552 million hectares, storing 208 Gt carbon.
- Indonesia lost 9.7 million hectares of primary forest 2002-2019.
- Global roundwood production reached 4.3 billion cubic meters in 2020.
- Russia's forests cover 815 million hectares, 20% of world total.
- EU forests sequester 400 million tonnes CO2 annually.
- Global freshwater use totals 4,000 km³ per year, 70% for agriculture.
- World renewable energy capacity hit 3,372 GW at end-2022.
- Hydropower generates 16% of global electricity, 4,150 TWh in 2022.
- Global fisheries capture 90 million tonnes annually, aquaculture 122 million tonnes in 2020.
- Wind power capacity reached 906 GW globally in 2022.
- Solar PV installed capacity totaled 1,053 GW worldwide end-2022.
- Congo Basin forests cover 179 million hectares, second largest tropical forest.
- Global groundwater provides 43% of irrigation water.
- US forests cover 766 million acres, sequestering 800 million tonnes CO2 yearly.
- China planted 32 million hectares afforestation since 1978.
- Global ocean area 361 million km², producing 50-85% of Earth's oxygen.
- Geothermal energy capacity 15.4 GW globally in 2022.
Forests Water Renewables Interpretation
While humanity’s vast natural ledger still shows robust entries—from the Amazon’s sprawling carbon vaults to the ocean's prolific oxygen factories—our troubling withdrawals for timber, water, and land reveal a precarious balance sheet where our annual deforestation alone could clear a forest the size of Iceland.
Metals and Minerals
- World iron ore reserves total 190 billion tonnes as of 2022.
- Brazil holds 34 billion tonnes of iron ore reserves, 18% of global total in 2023.
- Australia produced 900 million tonnes of iron ore in 2022-23.
- Global copper reserves are 890 million tonnes contained copper as of 2023.
- Chile produces 5.4 million tonnes of copper annually, 28% of world output in 2022.
- Bauxite reserves worldwide total 55-60 billion tonnes dry equivalent in 2023.
- Guinea possesses 7.4 billion tonnes of bauxite reserves, 12% global share.
- Global gold reserves in mines are estimated at 54,000 tonnes as of 2023.
- South Africa holds 3,200 tonnes of gold reserves underground.
- Zinc reserves globally stand at 250 million tonnes contained metal in 2023.
- China produced 4.0 million tonnes of lead-zinc concentrate in 2022.
- Rare earth elements reserves total 120 million tonnes REO globally in 2023.
- China dominates with 44 million tonnes REE reserves, 37% of world.
- Global nickel reserves are 100 million tonnes as of 2023.
- Indonesia produced 1.6 million tonnes of nickel in 2022.
- Platinum group metals reserves total 70,000 tonnes globally in 2023.
- South Africa produces 70% of world platinum at 3.9 million ounces in 2022.
- Global lithium reserves reached 26 million tonnes LCE equivalent in 2023.
- Australia holds 6.2 million tonnes lithium reserves, 24% global.
- Cobalt reserves worldwide are 8.3 million tonnes as of 2023.
- Democratic Republic of Congo has 4.0 million tonnes cobalt reserves, 50% world.
- Global phosphate rock reserves are 71 billion tonnes in 2023.
- Morocco controls 50 billion tonnes phosphate rock, 71% global reserves.
- Potash reserves total 4 billion tonnes K2O equivalent worldwide.
- Canada produces 22 million tonnes potash annually, 30% world output.
- Diamond reserves estimated at 1.2 billion carats globally in 2023.
- Russia produces 25 million carats diamonds yearly, 30% global.
Metals and Minerals Interpretation
The world's mineral wealth is a story written in geological ledger books where a handful of nations—like Australia digging up iron, Chile refining copper, Congo mining cobalt, and Morocco sitting on phosphate—act as the planet's unevenly distributed but heavily leveraged bankers.
Natural Gas
- Global proven natural gas reserves totaled 6,923 trillion cubic feet at end-2022.
- Russia possesses 37.4% of the world's proven natural gas reserves with 1,688 trillion cubic feet in 2022.
- The United States produced 1,036 billion cubic meters of natural gas in 2022, leading globally.
- Qatar's North Field holds about 900 trillion cubic feet of recoverable natural gas reserves.
- Global natural gas consumption reached 4,038 billion cubic meters in 2022.
- Iran's proven natural gas reserves are 1,201 trillion cubic feet as of 2023.
- Turkmenistan exported 37.6 billion cubic meters of natural gas in 2022.
- Australia's LNG exports hit 81.3 million tonnes in 2022.
- Norway produced 114 billion cubic meters of natural gas in 2022.
- China consumed 378 billion cubic meters of natural gas in 2022.
- US natural gas reserves increased to 691 trillion cubic feet by end-2022.
- Global LNG trade volume was 404 billion cubic meters in 2022.
- Saudi Arabia's natural gas production was 121 billion cubic meters in 2022.
- Europe's natural gas imports from Russia dropped 80% in 2022 to 43 billion cubic meters.
- Canada's natural gas production reached 172 billion cubic meters in 2022.
- Indonesia's natural gas reserves are 39.7 trillion cubic feet in 2023.
- Global natural gas prices averaged $8.50 per million Btu in Henry Hub 2022.
- UAE's proven natural gas reserves stand at 215 trillion cubic feet as of 2023.
- Permian Basin natural gas production hit 20 billion cubic feet per day in 2022.
- Venezuela's natural gas reserves are 195 trillion cubic feet in 2023.
- Japan's LNG imports were 67 million tonnes in 2022.
- Algeria exported 52 billion cubic meters of natural gas in 2022.
- Nigeria's natural gas reserves are 206 trillion cubic feet as of 2023.
- Global natural gas pipeline trade was 777 billion cubic meters in 2022.
- Malaysia's LNG exports totaled 25 million tonnes in 2022.
- Egypt produced 59 billion cubic meters of natural gas in 2022.
- Global recoverable shale gas resources estimated at 7,325 trillion cubic feet.
- US LNG exports reached 11.9 billion cubic feet per day in 2022.
Natural Gas Interpretation
The world is sitting on a massive, but unevenly distributed, natural gas cushion, where Russia hoards the biggest pillow, the US is the busiest fluffer, and everyone else is scrambling for a comfortable spot in a market still reeling from geopolitical pillow fights.
Oil
- As of 2023, Venezuela holds the world's largest proven crude oil reserves at 303.8 billion barrels.
- Saudi Arabia produced 10.2 million barrels per day of crude oil in 2022, accounting for 12% of global production.
- The United States became the top crude oil producer in 2018 with output reaching 11.6 million barrels per day by 2022.
- Global proven oil reserves stood at 1,732.4 billion barrels at the end of 2022.
- Russia extracted 10.1 million barrels per day of crude oil in 2022.
- Canada's oil sands contain approximately 165 billion barrels of proven reserves as of 2023.
- Iraq's proven crude oil reserves are estimated at 145.0 billion barrels in 2023.
- Global oil demand reached 99.7 million barrels per day in 2022.
- Norway's crude oil production averaged 1.6 million barrels per day in 2022.
- Brazil's proven oil reserves grew to 13.0 billion barrels by end-2022 due to pre-salt discoveries.
- United Arab Emirates holds 111.0 billion barrels of proven crude oil reserves as of 2023.
- Global upstream oil investments totaled $533 billion in 2022.
- China's crude oil imports reached 11.0 million barrels per day in 2022.
- Kuwait's proven oil reserves are 101.5 billion barrels in 2023.
- Permian Basin in the US produced 5.9 million barrels per day of crude oil in 2022.
- Global oil refinery capacity increased to 102.5 million barrels per day by 2022.
- Libya's proven crude oil reserves stand at 48.4 billion barrels as of 2023.
- India's crude oil consumption was 5.0 million barrels per day in 2022.
- Nigeria produced 1.4 million barrels per day of crude oil in 2022 despite theft issues.
- Global oil prices averaged $100 per barrel for Brent crude in 2022.
- Iran's proven oil reserves are 157.2 billion barrels in 2023.
- US shale oil production contributed 65% of total US crude output in 2022.
- Qatar's crude oil reserves are 25.2 billion barrels as of 2023.
- Europe's crude oil production fell to 3.3 million barrels per day in 2022.
- Mexico's proven oil reserves declined to 5.8 billion barrels by 2022.
- Global offshore oil production was 30% of total crude output in 2022.
- Algeria's crude oil output was 0.9 million barrels per day in 2022.
- Kazakhstan's proven oil reserves reached 30.0 billion barrels in 2023.
- Japan's crude oil imports were 2.9 million barrels per day in 2022.
- Angola produced 1.1 million barrels per day of crude oil in 2022.
Oil Interpretation
While Venezuela sits atop a vast, untapped fortune like a hesitant dragon hoarding gold, the pragmatic engines of Saudi Arabia, the US, and Russia feverishly power the world's daily thirst for nearly 100 million barrels, revealing a global addiction sustained more by relentless production than by the mere existence of reserves.
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