5 States with the Largest Oil Reserves in the US

2. New Mexico

Total Proved Oil Reserves in 2021: 4.909 billion barrels

The annual oil production in New Mexico has more than doubled over the last five years, and in 2022, the state accounted for more than 13% of the total U.S. crude oil production and 6% of the country’s total natural gas gross withdrawals.

The Permian Basin, stretching across southeastern New Mexico and portions of western Texas, is the most prolific shale-oil producing region in the United States.

New Mexico is counted among the Top 3 States with the Largest Oil Reserves.