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Venezuela holds the world's largest proven oil reserves, with around 303 billion barrels, primarily extra-heavy crude in the Orinoco Belt, followed by Saudi Arabia, Iran, and Iraq. Despite its vast reserves, Venezuela's actual production is limited by technical challenges, sanctions, and investment issues, notes U.S. Energy Information Administration (EIA).
Top Countries by Proven Oil Reserves (approximate figures):
https://upload.wikimedia.org/wikipedia/commons/7/7b/Flag_of_Venezuela_%28state%29.svgVenezuela: ~303 billion barrels
https://upload.wikimedia.org/wikipedia/commons/0/0d/Flag_of_Saudi_Arabia.svgSaudi Arabia: ~267 billion barrels
https://upload.wikimedia.org/wikipedia/commons/thumb/c/ca/Flag_of_Iran.svg/255px-Flag_of_Iran.svg.pngIran: ~209 billion barrels
https://upload.wikimedia.org/wikipedia/commons/f/f6/Flag_of_Iraq.svgIraq: ~145 billion barrels
https://upload.wikimedia.org/wikipedia/commons/thumb/c/cb/Flag_of_the_United_Arab_Emirates.svg/1280px-Flag_of_the_United_Arab_Emirates.svg.pngUnited Arab Emirates: ~113 billion barrels
https://upload.wikimedia.org/wikipedia/commons/9/90/Flag_of_Kuwait_%283-2%29.svgKuwait: ~102 billion barrels
Russia: ~80 billion barrels
https://upload.wikimedia.org/wikipedia/commons/0/05/Flag_of_Libya.svgLibya: ~48 billion barrels
https://upload.wikimedia.org/wikipedia/en/a/a4/Flag_of_the_United_States.svgUnited States: ~48 billion barrels
Nigeria: ~38 billion barrels
Key Considerations:
Type of Oil: Much of Venezuela's oil is heavy crude, which is harder and more expensive to extract than light crude, notes Al Jazeera.
Production vs. Reserves: Having large reserves doesn't always mean high production; factors like infrastructure, technology, and politics play a huge role, as seen with Venezuela.
Trump wants Venezuela's oil. Will his plan work? - BBC
With an estimated 303 billion barrels, Venezuela is home to the world's largest proven oil reserves. But the amount of oil the cou...
BBC
Trump says US is taking control of Venezuela's oil reserves ... - CNN
Venezuela has about a fifth of the world's proven crude oil reserves. Venezuela leads all countries with 303 billion barrels of pr...
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Venezuela - EIA
Petroleum and other liquids. Venezuela had the world's largest proven crude oil reserves in 2023 with approximately 303 billion ba...
U.S. Energy Information Administration (EIA) (.gov)
Worldometer
https://www.worldometers.info › oil › oil-reserves-by-c...
Oil Reserves by Country ; 1, Venezuela, 299,953,000,000, 18.17% ; 2, Saudi Arabia, 266,578,000,000, 16.15%.Read more
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List of countries by proven oil reserves
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What people are saying
1:26
Venezuela is sitting on the biggest known oil reserve in the world - so why hasn't that translated into production, and why is the US so interested? CNN's Rafael Romo explains. Read more at the link in our bio.
10K+ likes · 21 hours ago
cnn
Instagram
"The world's largest proven oil reserves, tantalizing as they seem, may come with more risk than reward for the US oil giants, energy-industry watchers told CNN," writes Elisabeth Buchwald | Analysis
https://cnn.it/4qEsbUZ60+ reactions · 1 day ago
CNN · LinkedIn
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All of the World’s Oil Reserves by Country, in One Visualization 🛢️
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visualcapitalist · Facebook
Data-driven visual content publisher
Venezuela holds world's largest crude oil reserves: > 300B bpd (nearly 1/5 of world's proven reserves); despite this, Venezuela's oil production is relatively small, and has seen a sharp decrease in past decade; due in part to country's declining oil infrastructure, which has suffered from a lack of investment, but also to the sanctions imposed by U.S. from January 2019 during Venezuelan presidential crisis; today, Venezuela produces < 1M bpd; comparatively, U.S. produces > 20M bpd, and Saudi Arabia just under 11M; Venezuela exports most of its oil production to China @StatistaCharts
8 hours ago
Venezuela holds the world’s largest proven crude oil reserves in 2024, accounting for around one fifth of global supply, according to data from OPEC. The country is estimated to have 303 billion barrels of proven reserves. The Trump administration has repeat
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Trump says the US will look to tap Venezuela's oil. Venezuela has the most oil reserves, but only accounts for 1% of global production.
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Business Insider · LinkedIn
Online media company
Venezuela holds nearly 300 BILLION barrels of oil — the largest proven oil reserve on Earth. 🌍 More than any other country, Venezuela’s underground wealth has made it a strategic focal point for global energy, geopolitics, and power dynamics. From internati
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Facebook
Ten countries with the largest oil reserves (2024) 1. Venezuela 🇻🇪: 303.2bn b 2. Saudi Arabia 🇸🇦: 267.2bn b 3. Iran 🇮🇷: 208.6bn b 4. Iraq 🇮🇶: 145bn b 5. United Arab Emirates 🇦🇪: 113bn b 6. Kuwait 🇰🇼: 101.5bn b 7. Russia 🇷🇺: 80bn b 8. Libya 🇱🇾: 48.4bn b 9. United States 🇺🇸: 45bn b 10. Nigeria 🇳🇬: 37.3bn b b: barrels <World Population Review> #TheCableIndex
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Venezuela oil grab: Why Trump wants to ‘be repaid’ with world’s biggest petroleum reserves
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malaymaildotcom · Facebook
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🚨 Breaking: U.S. strikes Venezuela 🇻🇪 World’s largest oil reserves under attack - what does this mean for crude prices, minerals & India’s energy security? 🛢️🌍 #breakingnews #venezuela #crudeoil #commodity #naturalresources
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ca_rachanaranade · Instagram
Finance educator & chartered accountant
🌍 Who Hosts Large Oil Reserves?🛢️ • 🇻🇪 Venezuela — 303 billion barrels (largest proven reserves in the world) • 🇸🇦 Saudi Arabia — 267 • 🇨🇦 Canada — ~159 • 🇺🇸 United States — ~81 • 🇷🇺 Russia — ~80 • 🇱🇾 Libya — ~48 • 🇳🇬 Nigeria — ~38 (NYT)
9 likes · 8 hours ago
AP writes:: Now I do not know how far back in geological time I can go and say the Amazon River was the largest River in the world. I can say that such a environment is conducive to much Plant life that becomes oil. So there is a connection with large oil deposit and largest River.
Certainly, China has the world's largest Rare Earth deposits and China does have immense rivers.