Venezuela has the largest amount of oil reserves in the world with 300.9 billion barrels. Saudi Arabia has the second-largest amount of oil reserves in the world with 266.5 billion barrels. Despite Venezuela’s large supply of natural resources, the country still struggles economically and its people are going hungry. Venezuela, situated in South America, is on the top of this list. The proven oil reserves of this country are 302 Billion Barrels. It supplied 2,489.2 Thousand Barrels per day in 2012 as shown in records. Though this country has larger oil reserves than Saudi Arabia. Russia and Canada are the only two countries that are not part of the OPEC. On the other hand, countries or member nations that conform the OPEC own more than 80 percent of the proven oil reserves. Per Investopedia, these are the countries ranked by percent of crude oil reserves (in billion barrels): 1. Venezuela (20.2 percent) 2. Top 5 African countries by proven crude oil reserves. Nigeria holds the second largest crude oil reserves in Africa, and the eleventh largest in the world. The country has 37 billion barrels of proved crude oil reserves. Share on Facebook; Share on Twitter; Share on LinkedIn; Share via Whatsapp; Send as Mail; Download the Chart OPEC Share of World Crude Oil Reserves According to current estimates, 79.4% of the world's proven oil reserves are located in OPEC Member Countries, with the bulk of OPEC oil reserves in the Middle East, amounting to 64.5% of the OPEC total. possible and undiscovered), the United States is at the top of the list with 264 billion barrels of recoverable oil reserves, followed by Russia with 256 billion, Saudi Arabia with 212 billion, Canada with 167 billion, Iran with 143 billion, and Brazil with 120 billion (Table 1).
4 May 2017 Instead, the real oil kingpin in OPEC is the South American country, Venezuela. Venezuela has 300 billion barrels of proved oil reserves, Despite our best estimates, it is not exactly known how much oil and gas exist in the It is also commonly agreed that Middle East oil reserves and production have Of these countries, Iran, Iraq, Kuwait, Qatar, Saudi Arabia and UAE are also 24 Jun 2019 Proven oil reserves are those that have a reasonable certainty of being These are the countries whose proven oil reserves are in the top 10 4 Nov 2019 in the UAE's oil and natural gas reserves as well as new discoveries. newly revised ranking of top 10 countries by proven oil reserves is:.
5 Jul 2016 The U.S. holds more recoverable oil than any other country in the world, The country's self-reported proven oil reserves jumped demonstrably 10 Oct 2017 This list represents the world's largest proven oil reserves by country; will surpass Venezuela at the top of the proven oil holdings charts. 5 Jul 2016 The U.S. holds more oil reserves than anyone else in the world, including Saudi Arabia, Some countries report proven reserves, using conservative estimates from existing oil fields. More Top Reads From Oilprice.com:. 19 Jul 2011 OPEC's proven crude oil reserves rose 12.1 percent in 2010 to 1.19 trillion The logo of the Organization of the Petroleum Exporting Countries 5 Jul 2016 When Rystad applies more conservative estimates of proven oil reserves, the United States falls to fourth place, behind Saudi Arabia, Russia, 14 Feb 2014 Libya holds the largest proven crude oil reserves and the fourth largest which makes securing energy sources one of India's top priorities.
OPEC Member Countries have made significant additions to their oil reserves in recent years, for example, by adopting best practices in the industry, realizing As a result, OPEC's proven oil reserves currently stand at 1,189.80 billion barrels. Proven Oil Reserves is determined through geological and engineering processes to produce an estimated value of oil stocks in the ground. Proven Oil Reserves 8 Jan 2019 There are many who also believe that, with further exploration, Saudi Arabia will surpass Venezuela at the top of the proven oil holdings charts.
Top 10 Countries With The World’s Biggest Oil Reserves 1. Venezuela. 2. Saudi Arabia. 3. Canada. 4. Iran. 5. Iraq. 6. Kuwait. 7. United Arab Emirates. 8. Russia. 9. Libya. 10. Nigeria. Countries with the biggest oil reserves Venezuela. Venezuela holds the world’s largest proven oil reserves. Saudi Arabia. Saudi Arabia ranks second biggest holding 265.4 billion barrels of proven oil reserve. Canada. Canada’s proven oil reserves stand at 173.1 billion barrels, Iran. Iran