Comparing Oil Production Per Day with Oil Reserves, by Country, 2024
graph from Chartr/Sherwood News; slow reveal by Jenna Laib
Type of Graph: Scatterplot
Purpose
This slow reveal is designed to support analysis and discussion of both the data and the design choices. The questions in the slide deck invite learners to examine trends, relationships, and possible interpretations. This graph is especially relevant to current events in US and Venezuela, but it is also interesting to examine the values of specific data points, and to consider how the two variables relate. This gets at the heart of understanding bivariate data. Students will also work with some giant numbers (millions of barrels per day, billions of barrels in reserves). There is a follow-up handout (handout + resource #1 + resource #2) for students to calculate to Reserves-to-Production (R/P) ratio, to calculate how long different country’s oil reserves could last at current rates.
About This Graph
This visualization is not provided for reuse or redistribution. Readers and educators are encouraged to view the original visualization in its published context.
Original Visualization:
Chartr. “Oil and defense stocks gain after President Trump says the US plans to ‘run’ Venezuela after Saturday’s military operation.” Sherwood News: January 5, 2026. Accessed at https://sherwood.news/markets/oil-defense-stocks-gain-after-trump-us-venezuela/
Data Sources:
Organization of the Petroleum Exporting Countries. “2025 Annual Statistical Bulletin.” OPEC. Accessed at: https://www.opec.org/assets/assetdb/asb-2025.pdf
In The Classroom
There are many different mathematical connections that can be made to this data and data visualization.
Potential Math Content: scatterplot, bivariate data, estimating values, comparing values, meaning of a point, scale along the y-axis, scale, large numbers, place value
Potential Content Connections: oil, resources, politics
Additional Resources
Student Handout: Calculating the Reserves-to Production (R/P) Ratio
Resource #1: Proven Crude Oil Reserves, By Country (pg. 22 of OPEC Annual Statistical Bulletin)
Resource #2: Crude Oil Production, By Country (pg. 26 of OPEC Annual Statistical Bulletin)
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