Top Countries with the Largest Proven Oil Reserves

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Top Countries with the World’s Largest Proven Oil Reserves in 2025

Venezuela’s Oil Wealth Dominates the Globe
Venezuela maintains its position as the world’s leading holder of proven oil reserves with an astonishing 303 billion barrels. Despite economic challenges, the South American nation’s vast underground reservoirs continue to hold significant global economic influence. The country’s oil industry remains a critical pillar of its economy, with substantial reserves that have historically attracted international interest. Venezuela’s oil sands also contribute to these figures, bolstering its overall capacity.

Saudi Arabia’s Steady Supremacy in Oil Reserves
Holding roughly 267 billion barrels, Saudi Arabia is renowned worldwide for its vast and accessible oil reserves. The kingdom’s capacity to produce and export crude oil plays a pivotal role in global energy markets. As the largest producer among OPEC nations, Saudi Arabia’s strategic oil reserves underpin its geopolitical influence and economic stability, securing its position as a key energy powerhouse.

Iran’s Robust Oil Reserves Sustain Its Strategic Importance
Iran is estimated to possess approximately 209 billion barrels of proven oil reserves. Despite international sanctions impacting its oil exports, Iran remains a vital player in the global oil industry thanks to its large underground reserves. These resources continue to bolster Iran’s economic prospects and geopolitical heft, with ongoing efforts to revive its oil sector.

Canada Ranks Fourth with Impressive Oil Reserves
Canada’s proven oil reserves tally up to about 163 billion barrels, primarily extracted from its famous oil sands in Alberta. While environmentally contentious, these oil sands have become a significant source of crude oil, supporting Canada’s status as one of the world’s top energy producers. Ongoing technological advances have expanded accessibility to these reserves.

Iraq’s Growing Oil Reserves
With approximately 145 billion barrels, Iraq’s oil reserves rank fifth globally. The Middle Eastern nation has seen increased foreign investment and exploration endeavors, which are expected to boost its production capacity further. Iraq’s strategic location and substantial reserves make it a vital piece of the global energy puzzle.

United Arab Emirates’ Strategic Reserve Holdings
The UAE holds around 113 billion barrels, focusing especially on its Abu Dhabi fields. The country has diversified its economy but continues to rely heavily on oil revenues. Its reserves support its influence within OPEC and the broader Gulf Cooperation Council, emphasizing stability and economic development through oil exports.

Kuwait’s Significant Oil Stockpile
Kuwait possesses over 102 billion barrels of proven reserves, making it one of the world’s top ten oil-rich nations. Its mature fields are among the most productive globally, enabling the small Gulf country to maintain a high per-capita oil reserve ratio and significant influence in regional energy markets.

Russia’s Global Oil Reserves and Production Capacity
Russia maintains approximately 80 billion barrels of proven reserves. The nation’s vast landmass hosts extensive undeveloped fields, and its mature infrastructure supports substantial oil exports. Russia remains a key player in global energy geopolitics, balancing its reserves with international supply commitments.

Libya’s Oil Reserves in a State of Flux
With around 48 billion barrels, Libya has considerable potential yet faces ongoing political instability that hampers full utilization of its reserves. Recovering from civil conflict, Libya aims to restore its oil sector to augment its economy and stabilize regional markets.

United States’ Substantial Oil Reserves
The US controls about 45 billion barrels, thanks largely to the development of its shale oil and tight sand formations. The country’s technological innovations in hydraulic fracturing and horizontal drilling have transformed it into a top oil producer, reducing dependency on imports and influencing global prices.

Emerging and Developing Nations with Notable Reserves

Nigeria (37 billion): An influential African oil producer with significant reserves, mostly offshore.
Kazakhstan (30 billion): Central Asia’s energy hub, with considerable untapped potential.
China (28 billion): Among the largest holders in Asia, with reserves supporting its massive consumption needs.
Qatar (25 billion): A Gulf nation leveraging its reserves to expand liquefied natural gas exports.
Brazil (16 billion): South America’s primary oil producer, with offshore pre-salt fields holding promising reserves.

Smaller but Noteworthy Reserves Around the Globe

Algeria (12 billion): North African oil giant with substantial reserves.
Ecuador (8 billion): Significant reserves that influence regional energy dynamics.
Azerbaijan (7 billion): Positioned in the Caspian Sea with growing reserves.
Norway and Mexico (each 7 billion): Mature oil sectors with ongoing exploration efforts.
Other countries like Vietnam, Egypt, Argentina, Malaysia, Angola, Indonesia, Colombia, and Gabon, each hold between 2 and 5 billion barrels, contributing to the diverse global oil landscape.

Figures as of the end of 2024 include oil sands, with one barrel equaling 159 liters.

(Source: OPEC via Visual Capitalist, 2025)