Countries with the Largest Proven Oil Reserves 2024
Source:
OPEC
Key Findings
🏆
Venezuela leads in Proven Oil Reserves (Billion Barrels) with 303 in 2024.
📊
Average Proven Oil Reserves (Billion Barrels) in 2024: 165 · median: 150.
↔️
Gap in 2024: Venezuela is 3.8× larger than Russia.
About This Dataset
Countries with the Largest Proven Oil Reserves 2024
Countries ranked by proven crude oil reserves in 2024, measured in billions of barrels according to OPEC Annual Statistical Bulletin and EIA data. Venezuela holds the world's largest proven oil reserves, overtaking Saudi Arabia in 2010 — though much of its reserves are heavy crude that is expensive to extract.
Analysis
The top three in Proven Oil Reserves (Billion Barrels) in 2024 are Venezuela (303), Saudi Arabia (267) and Canada (168). Venezuela tops the list without dominating it, holding 23% of what the 8 entities record between them. The other 6 are bunched between 80 and 168.
Data Insights
Numbers, trends & sources behind this chart
Methodology & source
- Data source
- OPEC
- Coverage
- 8 entities · 2024 · 8 observations
- Measure
- Proven Oil Reserves (Billion Barrels)
- Last updated
- 6 September 2026
- Compiled by
- The ANYSTAT team, from the source above
How the figures are calculated
- Values use the measure and unit named on this page. Consult the dataset description and cited source for coverage, definitions and any unit conversions. Displayed values may be rounded for readability.
- Entities are ranked highest-first on their value in 2024.
Data Sources & References
All external sources cited in this dataset
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