World’s Oil Reserves by Country Visualization

Key Takeaways

· Four countries (Venezuela, Saudi Arabia, Iran, Canada) control over half of the world’s proven oil reserves.

· Fossil fuels still supply ~70% of global energy demand, despite growth in renewables.

· Oil remains central to transportation, industry, geopolitics, and trade flows.

Top 10 Countries by Proven Oil Reserves

Rank	Country	Reserves (Billion Barrels)
1	Venezuela	303,221
2	Saudi Arabia	267,200
3	Iran	208,600
4	Canada	163,000
5	Iraq	145,019
6	UAE	113,000
7	Kuwait	101,500
8	Russia	80,000
9	Libya	48,363
10	United States	45,014

OPEC & Middle East Dominance

· Saudi Arabia, Iran, Iraq, Kuwait, UAE anchor OPEC’s control.

· These reserves are low-cost and easily accessible, ensuring Middle East remains a critical supplier even as demand slows.

Non-OPEC Producers

· Canada: 4th globally, with reserves mainly in oil sands (costly & carbon-intensive).

· Russia & USA: Also in top 10, highlighting non-OPEC influence.

Overall Insight

· Oil reserves are highly concentrated and unevenly distributed.

· Resource-rich nations retain significant economic and geopolitical leverage, even as the energy transition advances.

[ABS News Service/31.12.2025]

Rank	Country	2024 (Billion Barrels)
1	Venezuela	303,221
2	Saudi Arabia	267,200
3	Iran	208,600
4	Canada	163,000
5	Iraq	145,019
6	United Arab Emirates	113,000
7	Kuwait	101,500
8	Russia	80,000
9	Libya	48,363
10	United States	45,014
11	Nigeria	37,280
12	Kazakhstan	30,000
13	China	28,182
14	Qatar	25,244
15	Brazil	15,894
16	Algeria	12,200
17	Ecuador	8,273
18	Azerbaijan	7,000
19	Norway	6,912
20	Mexico	5,136
21	Sudan	5,000
22	India	4,981
23	Oman	4,971
24	Vietnam	4,400
25	Egypt	3,300
26	Argentina	2,999
27	Malaysia	2,700
28	Angola	2,550
29	Indonesia	2,410
30	Colombia	2,019
31	Gabon	2,000
32	Congo	1,811
33	Australia	1,803
34	United Kingdom	1,500
35	Brunei	1,100
36	Equatorial Guinea	1,100
37	Turkmenistan	600
38	Uzbekistan	594
39	Ukraine	395
40	Denmark	365
41	Belarus	198
42	Chile	150

The Role of OPEC and the Middle East

Many of the world’s largest oil reserves are held by OPEC members, particularly in the Middle East. Saudi Arabia, Iran, Iraq, Kuwait, and the United Arab Emirates anchor the region’s dominance.

These countries benefit from low extraction costs and large, easily accessible reserves. As a result, Middle Eastern producers are expected to remain critical suppliers even as global demand growth slows.

Oil Sands and Non-OPEC Producers

Canada stands out among non-OPEC countries, ranking fourth globally with 163 billion barrels of reserves. The majority of Canada’s reserves come from oil sands, which are more expensive and carbon-intensive to extract. Russia and the United States also rank among the top 10.

Taken together, the data highlights how unevenly oil resources are distributed and why oil-rich nations continue to have significant economic and geopolitical power.