Where Data Tells the Story
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This graphic shows the world’s top 10 countries with the largest proven crude oil reserves, based on data from the OPEC 2024 Report. It highlights the heavy concentration of global oil resources, with Venezuela leading the list, followed by Saudi Arabia and Iran.
Venezuela holds about 303 billion barrels of proven crude oil reserves, or 19.4% of the global total, making it the world’s largest holder. Saudi Arabia ranks second with 267 billion barrels (17.1%), while Iran follows with 209 billion barrels (13.3%). Together, the top three countries account for nearly half of global proven reserves.
Canada is the largest non-OPEC country, with 171 billion barrels (10.9%), largely from oil sands. Iraq (145 billion barrels, 9.3%), the UAE (113 billion barrels, 7.2%) and Kuwait (102 billion barrels, 6.5%) further underline the Middle East’s dominance. Russia (80 billion barrels, 5.1%), Libya (48 billion barrels, 3.1%) and the United States (45 billion barrels, 2.9%) complete the top 10.