These Are The Countries With The Largest Crude Oil Reserves

Unsurprisingly, Venezuela has the largest amount of proven oil reserves in the world. The country has 300.9 billion barrels of oil in reserve. Previously, Saudi Arabia had always held the number one position.

Saudi Arabia takes the No. 2 spot with 266.5 billion barrels of oil in reserve, followed by Canada (169.7 billion barrels of oil), Iran (158.4 billion barrels of oil), and Iraq (142.5 billion barrels of oil).

To identify countries with the largest crude oil reserves, CEOWORLD magazine reviewed numerous national and international media reports. Additional information about the proven oil reserves came from the CIA Factbook. The following list showcases countries with the biggest crude oil reserves. Proven oil reserves are those that have a reasonable certainty of being recoverable under existing economic and political conditions, with existing technology. One Crude Barrel is equal to 42 gallons.

These Are The Countries With The Largest Crude Oil Reserves

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