The remaining economic recoverable reserves are the core assets of oil companies. Their scales and value reflect the development potential of the company，which directly affects the depreciation and profit of the company and value retaining and increment of oil and gas assets. Based on the calculation model of the remaining economic recoverable reserves and the reserve value，sensitivity of initial oil production，decline rate，oil price and operation cost under different oil prices on the remaining economic recoverable reserves and reserve value are determined quantitatively. The results show that the remaining economic recoverable reserves and reserve value are positively correlated with oil price and initial oil production，and negatively correlated with decline rate and operation cost. Under different oil prices，the remaining economic recoverable reserves and reserve value have different sensitivities to various factors. At high oil price，the main influencing factors are initial oil production and decline rate. With the declining of oil price，the influences of oil price and operation cost on the remaining economic recoverable reserves and reserve value are gradually enhanced，and even exceed those of the initial production and decline rate at a certain oil price.