GCC Crude Oil Reserves Top 518 Billion Barrels

Gulf Cooperation Council (GCC) Secretary-General Jasem Mohamed Albudaiwi announced that the region's crude oil reserves exceed 518 billion barrels, underscoring the group's efforts to diversify energy export routes and secure supply chains. Speaking at the 37th meeting of the GCC Petroleum Cooperation Committee in Manama, Bahrain, Albudaiwi highlighted the importance of ensuring reliable energy supplies amid global shifts.

Albudaiwi noted that 2025 indicators project GCC crude oil reserves at over 518 billion barrels, while natural gas reserves surpass 44 trillion cubic meters. Current crude oil production stands at over 16 million barrels per day, with marketed natural gas production at approximately 461 billion cubic meters annually.

He emphasized that recent disruptions in transit corridors necessitate stronger GCC coordination to maintain supply reliability. Albudaiwi advocated for a balanced and pragmatic approach to the energy transition, aiming to preserve market stability and encourage investment in modern technologies.