Top 20 Countries With Biggest Oil Reserves, Nigeria & UAE On The List

Beneath the immediate chaos of the US-Israel vs Iran war lies the deeper truth about oil's dual nature: abundant yet fragile.

But which country holds the most fossil fuel reserves? Currently, proven reserves show Venezuela leading with 303 billion barrels, followed by Saudi Arabia (267 billion) and Iran (~208 billion), with OPEC controlling over 60% of the total.

Countries with the Most Oil Reserves 1. Venezuela – 303 Billion Barrels 2. Saudi Arabia – 267 Billion 3. Iran – 209 Billion 4. Canada – 163 Billion 5. Iraq – 145 Billion 6. UAE – 113 Billion 7. Kuwait – 102 Billion 8. Russia – 80 Billion 9. Libya – 48 Billion 10. United States – 45 Billion 11. Nigeria – 37 Billion 12. Kazakhstan – 30 Billion 13. China – 28 Billion 14. Qatar – 25 Billion 15. Brazil – 16 Billion 16. Algeria – 12 Billion 17. Ecuador – 8 Billion 18. Azerbaijan – 7 Billion 19. Norway – 7 Billion 20. Mexico – 5 Billion 21. Sudan – 5 Billion 22. India – 5 Billion 23. Oman – 5 Billion 24. Vietnam – 4 Billion 25. Egypt – 3 Billion 26. Argentina – 3 Billion 27. Malaysia – 3 Billion 28. Angola – 3 Billion 29. Indonesia – 2 Billion 30. Colombia – 2 Billion 31. Gabon – 2 Billion 32. Congo – 2 Billion 33. Australia – 2 Billion 34. United Kingdom – 2 Billion 35. Brunei – 1 Billion 36. Equatorial Guinea – 1 Billion 37. Turkmenistan – 600 Million 38. Uzbekistan – 600 Million 39. Ukraine – 400 Million 40. Denmark – 370 Million 41. Belarus – 200 Million 42. Chile – 150 Million Barrels Note: Figures as at year-end as of 2024. Data includes oil sands. Source: OPEC via Visual Capitalist