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Which country has the largest proven oil reserves?

Which country has the largest proven oil reserves?

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Asked by Daniel Collingwood, Last updated: Mar 11, 2024

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e.Barrington

e.Barrington

e.Barrington
E.Barrington

Answered Dec 26, 2017

Venezuela has the worlds largest proven oil reserves at around 300 billion barrels at its disposal. Oil and petroleum products are the main export of Venezuela. The South American country accounts for around 20% of the worlds oil deposits. The fall in the oil prices has deeply affected the Venezuelan economy to the extent of emergency being declared by the president. Petróleos de Venezuela(PDVSA) is the state-owned and the biggest oil extractor in Venezuela.

Venezuela has the worlds largest proven oil reserves at around 300 billion barrels at its disposal.PDVSA officials have been accused of widespread corruption and opposition have accused the government of appointing pro-government candidates at key PDVSA positions.

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