Here are the top 10 countries with the most oil reserves in the world, as of 2023:
- Venezuela (303.221 billion barrels): Venezuela has the largest oil reserves in the world, with an estimated 300 billion barrels of oil. However, the country’s oil production has been declining in recent years due to economic and political instability.
- Saudi Arabia (267.192 billion barrels): Saudi Arabia is the second-largest oil producer in the world, and it has the second-largest oil reserves. The country’s oil reserves are located in the Ghawar field, which is the largest oil field in the world.
- Canada (170.300 billion barrels): Canada has the third-largest oil reserves in the world. The country’s oil reserves are located in the oil sands of Alberta, which are a type of heavy oil that is more difficult to extract than conventional oil.
- Iran (208.600 billion barrels): Iran has the fourth-largest oil reserves in the world. The country’s oil reserves are located in the Zagros Mountains, and they are estimated to be about 100 billion barrels of recoverable oil.
- Iraq (145.019 billion barrels): Iraq has the fifth-largest oil reserves in the world. The country’s oil reserves are located in the Mesopotamian Basin, and they are estimated to be about 115 billion barrels of recoverable oil.
- United Arab Emirates (113.000 billion barrels): The United Arab Emirates has the sixth-largest oil reserves in the world. The country’s oil reserves are located in the onshore and offshore fields of Abu Dhabi, and they are estimated to be about 90 billion barrels of recoverable oil.
- Kuwait (101.500 billion barrels): Kuwait has the seventh-largest oil reserves in the world. The country’s oil reserves are located in the onshore and offshore fields of Kuwait, and they are estimated to be about 80 billion barrels of recoverable oil.
- Russia (80.000 billion barrels): Russia has the eighth-largest oil reserves in the world. The country’s oil reserves are located in Western Siberia, and they are estimated to be about 60 billion barrels of recoverable oil.
- Libya (48.363 billion barrels): Libya has the ninth-largest oil reserves in the world. The country’s oil reserves are located in the Sirte Basin, and they are estimated to be about 40 billion barrels of recoverable oil.
- Nigeria (36.967 billion barrels): Nigeria has the tenth-largest oil reserves in the world. The country’s oil reserves are located in the Niger Delta, and they are estimated to be about 30 billion barrels of recoverable oil.
It is important to note that these figures are estimates, and the actual amount of oil reserves in each country may vary. The reserves are also subject to depletion, so the rankings may change over time.
