Norway Oil

Oil Reserves in Norway (2025)

See also: List of countries by Oil Reserves

Norway holds 6,912,490,000 barrels of proven oil reserves as of 2025, ranking #20 in the world and accounting for about 0.39% of the world's total oil reserves of 1,765,151,568,000.

Norway has proven reserves equivalent to 80.8 times its annual consumption levels (based on 2024 data). This means that, without net exports, there would be about 81 years of oil left (at 2024 consumption levels and excluding unproven reserves).

History of Oil Reserves in Norway

Oil Consumption in Norway (2024)

See also: List of countries by Oil Consumption

• Norway consumes 234,358 barrels per day (B/d) of oil as of the year 2024.
• Norway ranks #51 in the world for oil consumption, accounting for about 0.23% of the world's total consumption of 102,559,503 barrels per day.
• Norway consumes 1.77 gallons of oil per capita every day (based on the 2024 population of 5,576,660 people), or 644 gallons per capita per year (15 barrels). [1 barrel = 42 US Gallons]

Oil Production in Norway (2024)

See also: List of countries by Oil Production

• Norway produces 2,006,874 barrels per day of oil (as of 2024) ranking #12 in the world.
• At 2024 production levels, Norway produces every year about 10.6% of its proven reserves ( 2025).

Oil Exports (2020)

• In 2020, Norway exported 71% of its oil production (1,432,134 barrels per day out of 2,007,167 produced).

History of Oil Consumption and Production