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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This report/news/ranking/statistics has been prepared only for general guidance on matters of interest and does not constitute professional advice. You should not act upon the information contained in this publication without obtaining specific professional advice. No representation or warranty (express or implied) is given as to the accuracy or completeness of the information contained in this publication, and, to the extent permitted by law, CEOWORLD magazine does not accept or assume any liability, responsibility or duty of care for any consequences of you or anyone else acting, or refraining to act, in reliance on the information contained in this publication or for any decision based on it.

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