5 States with the Largest Oil Reserves in the US

3. North Dakota

Total Proved Oil Reserves in 2021: 4.361 billion barrels

North Dakota holds around 10.6% of the total oil reserves in America and the state’s oil and gas industry remains a powerhouse for its economy, accounting for more than $42.6 billion in gross business volume, nearly 50,000 jobs, and $3.8 billion in state and local tax revenues in 2021.

The Bakken formation in western ND constitutes one of the largest deposits of oil and natural gas in the United States.