The country with the largest oil reserves has been revealed
According to estimates at the end of 2025, the world's proven oil reserves amounted to nearly 1.8 trillion barrels. Among countries, Venezuela leads with 303.4 billion barrels. However, possessing large reserves does not mean holding first place in extraction as well.
The country with the largest oil reserves has been identified
Nearly half of the world's reserves are concentrated in the Middle East
The Middle East ranks first in the world for oil reserves. The region's largest reserves are concentrated in the following countries:
Saudi Arabia — 267.2 billion barrels;
Iran — 208.6 billion barrels;
Iraq — 145 billion barrels;
United Arab Emirates — 113 billion barrels.
Despite this, the Middle East ranks second in terms of production volume. In 2025, nearly 31 million barrels of oil per day were produced in the region.
The region's largest producer is Saudi Arabia, with a daily output of 9.6 million barrels. The report states that the number of operating oil drilling rigs in the country fell in 2025 to its lowest level in 20 years. Meanwhile, energy investments have been increasingly directed toward natural gas production.
Venezuela — the leader among countries
Central and South America took second place among regions with 354.8 billion barrels, or 19.7 percent of world reserves.
Nearly 86 percent of these reserves belong to Venezuela. The country's oil reserves are estimated at 303.4 billion barrels — the highest national figure in the world.
However, Venezuela's production capabilities are limited. Field development is hampered by the need to extract extra-heavy oil, economic problems, and underdeveloped infrastructure.
North America is third in reserves, first in production
North America has 246 billion barrels of oil reserves. This is equivalent to 13.6 percent of the global figure.