Top 20 Countries With The World’s Largest Proven Oil Reserves

It’s interesting because people assume that Saudi Arabia has the largest oil reserves on earth. Instead, the real oil kingpin in OPEC is the South American country, Venezuela.  
 
Venezuela has 300 billion barrels of proved oil reserves, according to OPEC’s data, ahead of Saudi Arabia’s 269 billion barrels of proven oil reserves. So, which other countries have the world’s largest proven oil reserves?

Canada total proved oil reserve has been estimated at 171 billion barrels. This places Canada in the number 3 spot in the world rankings, right behind Saudi Arabia, with an estimated at 269 billion barrels.

Top 20 Countries With The World’s Largest Proven Oil Reserves:

1. Venezuela – 300 billion barrels
2. Saudi Arabia – 269 billion barrels
3. Canada – 171 billion barrels
4. Iran – 157.8 billion barrels
5. Iraq – 143 billion barrels
6. Kuwait – 104 billion barrels
7. Russia – 80 billion barrels
8. United Arab Emirates – 98 billion barrels
9. Libya – 48.3 billion barrels
10. Nigeria – 37 billion barrels
11. United States –  36.5 billion barrels
12. Kazakhstan – 30 billion barrels
13. Qatar – 25 billion barrels
14. China – 24 billion barrels
15. Brazil – 15 billion barrels
16. Algeria – 12 billion barrels
17. Mexico – 10 billion barrels
18. Angola – 9 billion barrels
19. Ecuador – 8.8 billion barrels
20. Azerbaijan – 7 billion barrels

Note: Proven oil reserves are those that have a reasonable certainty of being recoverable under existing economic and political conditions, with existing technology.