Top 6 Countries Which Have The Largest Oil Reserves
By Mahima Sharan24, Jul 2023 12:22 PMjagranjosh.com
Oil Reserves
These countries stand out in a world where there is a constant need for energy because they have the largest oil reserves. Keep swiping to know about these countries!
Venezuela (304 billion barrels)
With more than 300 billion barrels of proven reserves, Venezuela holds the world's greatest oil reserves. Like Canada, the nation also possesses significant oil sands reserves.
Saudi Arabia (298 billion barrels)
Saudi Arabia holds the second position in the oil reserves. A substantial portion of Saudi Arabia's oil reserves by the end of 2019 totalled just under 298 billion barrels.
Iran (156 billion barrels)
Iran's oil production stays at 2006 levels, its reserves should endure for over a century. Although they have lost the ability to produce more oil but still they have it.
Canada (170 billion barrels)
Canada is the greatest exporter of crude oil with the majority of its sales going to the USA. Around 97% of the nation's reserves are oil sand deposits in the Alberta.
Iraq (145 billion barrels)
Iraq with 145 billion barrels of oil reserves or 8.4% of the world's total. Its oil infrastructure is making them unable to earn national income.
Russia (107 billion barrels)
A significant portion of Russia's proven oil reserves, which make up 6.2% of global reserves and are little over 107 billion barrels, are found in Siberia.