Top 10 Countries with the Largest Oil Reserves in the World
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The largest proven oil reserves in the world are in
Venezuela
, with about 303 billion barrels of oil.
One of the world’s largest oil exporters is
Saudi Arabia
, which has about
267 billion barrels
of oil reserves.
Iran
is one of the most oil-rich countries in the Middle East, with around
208–209 billion barrels
of oil reserves.
Canada
has about
163 billion barrels
of oil reserves, most of which are found in the form of
oil sands or bitumen
The
economy of Iraq
is largely dependent on oil, and the country has around
145 billion barrels
of reserves.
The
United Arab Emirates (UAE)
has high-quality light crude oil, with about
113 billion barrels
of reserves.
One of the world’s largest oil fields, the
Burgan Field
, is located in
Kuwait
, which has about
101.5 billion barrels
of oil reserves.
Russia
is one of the world’s major oil-producing countries, with around
80 billion barrels
of reserves.
The
United States
is a global leader in oil production due to
shale oil technology
, and it has about
74 billion barrels
of oil reserves.
Libya
has the largest oil reserves in
Africa
, with about
48 billion barrels
of oil.