Mexico has largest oil reserves in North America
Mexico has the largest oil reserves in North America since it has reserves with a proven volume of 24 bn barrels of oil. The United States has the second-largest reserves at 22 bn barrels, with Canada in third place with 4.4 bn barrels of oil.
The study, carried out by the North American Energy Working Group, also said that Mexico would register the greatest
growth in oil production by the end of the decade as its rises from 3.5 mm to 4.6 mm bpd. According to the study,
Mexico produced 1.7 bn cf of natural gas during 2000.
Mexico's total gas reserves were estimated at just 30 bn cf, while the United States and Canada have 167 bn and 92 bn cf of gas reserves, respectively.
Despite the increase in the production of energy products, the report concluded that the participation of the region in world production of natural gas, coal and oil would decline during the present decade.