Here are the top five countries with the largest crude oil reserves in the world:US-Israel-Iran Conflict: Brent crude oil price rises to $80 per barrel1. Venezuela - 303 billion barrelsVenezuela continues to rank at the top of global crude oil reserve charts, with an estimated 303 billion barrels of proven oil reserves, making it the largest holder of recoverable crude in the world. These reserves alone account for roughly 17% of the world’s total proven crude oil resources. This volume accounts for about 15-17% of global proven oil reserves, a very large share for a single country. Iran - 208 billion barrelsThese reserves represent about 12% of the world’s total proven oil reserves.

Source: GhanaWeb March 06, 2026 14:22 UTC