Revealed: The Top 10 Nations with the Biggest Oil Reserves
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Top 10 Oil Reserves: Venezuela Leads, Saudi Arabia Dominates Global Market
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News18•10-03-2026, 13:00
Top 10 Oil Reserves: Venezuela Leads, Saudi Arabia Dominates Global Market
•Venezuela holds the world's largest oil reserves (303 Billion Barrels), primarily extra-heavy crude, but political instability and sanctions limit production.
•Saudi Arabia ranks second (267 Billion Barrels) with easy-to-refine light crude, boasting the lowest extraction costs and leading OPEC.
•Iran (209 Billion Barrels) and Canada (163 Billion Barrels) follow, with Iran facing sanctions and Canada relying on energy-intensive oil sands.
•Iraq (145 Billion Barrels) has easily accessible oil but lacks infrastructure due to conflict, while UAE (113 Billion Barrels) diversifies its oil wealth.
•Russia (80 Billion Barrels) is a top producer despite lower reserves, and the US (74 Billion Barrels) became the world's top producer through fracking technology.
