Venezuela, Country with the Largest Oil Reserves in 2024

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Adi Ahdiat 17/11/2025 12:16 WIB

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According to OPEC data, Venezuela has the largest oil reserves globally in 2024.

10 Countries with the Largest Global Crude Oil Proven Reserves (2024)

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10 Countries with the Largest Global Crude Oil Proven Reserves (2024)

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According to data from the Organization of the Petroleum Exporting Countries (OPEC), global oil reserves reached 1.57 trillion barrels in 2024.

This figure represents the volume of proven crude oil reserves, which are reserves that can be commercially extracted.

The largest oil reserves are located in Venezuela, with a volume of 303.22 billion barrels, equivalent to 19% of the total global reserves.

Below is a list of the top 10 countries with the largest oil reserves in 2024, based on OPEC data:

Venezuela: 303.22 billion barrels (19% of total global reserves)
Saudi Arabia: 267.2 billion barrels (17%)
Iran: 208.6 billion barrels (13%)
Iraq: 145.02 billion barrels (9%)
United Arab Emirates: 113 billion barrels (7%)
Kuwait: 101.5 billion barrels (6%)
Russia: 80 billion barrels (5%)
Libya: 48.36 billion barrels (3%)
United States: 45.01 billion barrels (3%)
Nigeria: 37.28 billion barrels (2%)

Combined, these 10 countries control 86% of the total proven crude oil reserves globally in 2024.

Meanwhile, Indonesia is recorded to have only 2.41 billion barrels of oil reserves, equivalent to 0.2% of the total global reserves.

Editor : Adi Ahdiat

"Disclosure: This is an AI-generated translation of the original article. We strive for accuracy, but please note that automated translations may contain errors or slight inconsistencies."

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