At 303 thousand million barrels, Venezuela has the biggest proven crude oil reserve in the world, which can last more than 500 years.
At 297.6 thousand million barrels, Saudi Arabia’s oil reserves can last for almost 69 years, assuming that the country 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, which can last more than 82 years, providing a vital source of energy for the country.
Iran has enough oil reserves to last more than a century.
At 155.6 thousand million barrels, the nation 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, which are enough to last more than 83 years, if present production rate is sustained.
Russia stands sixth on the list with 107.2 thousand million barres of proven crude oil reserves, which will last for the coming 25.5 years, if present production levels are maintained.
The seventh biggest proven crude oil reserves are in Kuwait, which are estimated to be around 101.5 thousand million barrels and would last for the next 92.8 years.