In response to main power information sources, listed below are the worldwide leaders in confirmed crude oil reserves:
Rank Nation Confirmed Reserves (billion barrels)
1 Venezuela 303
2 Saudi Arabia 267
3 Iran 209
4 Canada 168
5 Iraq 145
6 United Arab Emirates 113
7 Kuwait 101.5
8 Russia 80
9 United States 68.8
10 Libya 48.4
1. Venezuela (303 billion barrels)
This South American nation leads the world resulting from huge heavy crude deposits within the Orinoco Belt. Regardless of file reserves, manufacturing stays low (742 kb/d in 2023), hindered by sanctions, ageing infrastructure, and political turmoil
2. Saudi Arabia (267 billion barrels)
Saudi Arabia boasts a number of the most accessible and low-cost barrels globally. It continues to be a linchpin in oil markets by means of Saudi Aramco and OPEC affect.
3. Iran (209 billion barrels)
It holds important reserves, although worldwide sanctions restrict full exploitation. It’s a key participant in each regional dynamics and oil geopolitics.
4. Canada (168 billion barrels)
Most reserves are in Alberta’s oil sands (>95%). The nation’s high-cost extraction is balanced by US import ties and funding.
5. Iraq (145 billion barrels)
Iraq is a cornerstone of Center Jap oil, with reserves fueling important exports. Its efficiency is sometimes impacted by regional instability.
6. United Arab Emirates (113 billion barrels)
The United Arab Emirates’ reserves are centered in Abu Dhabi and managed by state-owned oil firm ADNOC. The UAE is nevertheless aggressively diversifying into tourism, finance and renewables.
7. Kuwait (101.5 billion barrels)
Round 70% of Kuwait’s reserves lie within the super-giant Burgan Discipline. The Center Jap nation has heavy funding in refining and petrochemical infrastructure (e.g., Al Zour).
8. Russia (80 billion barrels)
Russia’s reserves are largely in Siberia and Arctic zones. It’s a key OPEC+ companion and manufacturing stays pivotal regardless of Western sanctions.
9. United States (68.8 billion barrels)
Ranked ninth globally, the United State’s substantial shale reserves is pushing manufacturing to file highs. The US leads world oil output (13.2 mb/d), in keeping with information from April 2025.
10. Libya (48.4 billion barrels)
Libya has Africa’s largest reserves and it’s concentrated within the Sirte Basin. Output is hampered by political instability however the reserves stay excessive in 2025
The highest 10 nations account for a serious share of the world’s confirmed reserves. International locations similar to Saudi Arabia, UAE, Kuwait, US and Russia have typical mild crude whereas the likes of Venezuela and Canada have heavy or oil-sands crude, impacting manufacturing prices and market accessibility.
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