At 303 thousand million barrels, Venezuela has the biggest proven crude oil reserve in the world. At the current rate of production, Venezuela has enough reserves to last more than 500 years.
At 297.6 thousand million barrels, Saudi Arabia ranks second on the list of countries with biggest oil reserves. These massive oil reserves will last for almost 69 years, assuming that Saudi Arabia keeps its production limits at the same level as it was in 2019.
Third on the list stands Canada with 170 thousand million barrels worth of crude oil in reserves. These reserves can last more than 82 years, providing a vital source for energy for Canada.
Iran has enough oil reserves to last more than a century. At 155.6 thousand million barrels, Iran ranks fourth in the list of countries that have biggest proven oil reserves.
At 145 thousand million barrels, Iraq has the fifth biggest crude oil reserves in the world. This pool of fossil fuel is enough to last more than 83 years, if present production rate is sustained.
Russia stands sixth on the list with 107.2 thousand million barrels of proven crude oil reserves. These reserves will last for the coming 25.5 years if present production levels are maintained.
The seventh biggest proven crude oil reserves are in Kuwait. These reserves are estimated to be around 101.5 thousand million barrels and would last for the next 92.8 years.