Venezuela has the largest oil reserves worldwide. As of 2024, it had proved reserves amounting to more than billion barrels. The majority of this amount was held within the Orinoco Belt rock deposits in the form of oil sands. However, despite its great potential, political turmoil and resulting sanctions by its most important importer, the U.S., results in Venezuela's oil industry being severely affected. Current oil exports in Venezuela are only a of what it had been in 2010.
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OPEC. (July 2, 2025). Proved oil reserves worldwide in 1960 and 2024, by key countries (in million barrels) [Graph]. In ÌÇÐÄÆƽâ°æ. Retrieved July 25, 2026, from /statistics/264439/oil-reserves-in-selected-countries-since-1990/
OPEC. "Proved oil reserves worldwide in 1960 and 2024, by key countries (in million barrels)." Chart. July 2, 2025. ÌÇÐÄÆƽâ°æ. Accessed July 25, 2026. /statistics/264439/oil-reserves-in-selected-countries-since-1990/
OPEC. (2025). Proved oil reserves worldwide in 1960 and 2024, by key countries (in million barrels). ÌÇÐÄÆƽâ°æ. ÌÇÐÄÆƽâ°æ Inc.. Accessed: July 25, 2026. /statistics/264439/oil-reserves-in-selected-countries-since-1990/
OPEC. "Proved Oil Reserves Worldwide in 1960 and 2024, by Key Countries (in Million Barrels)." ÌÇÐÄÆƽâ°æ, ÌÇÐÄÆƽâ°æ Inc., 2 Jul 2025, /statistics/264439/oil-reserves-in-selected-countries-since-1990/
OPEC, Proved oil reserves worldwide in 1960 and 2024, by key countries (in million barrels) ÌÇÐÄÆƽâ°æ, /statistics/264439/oil-reserves-in-selected-countries-since-1990/ (last visited July 25, 2026)
Proved oil reserves worldwide in 1960 and 2024, by key countries (in million barrels) [Graph], OPEC, July 2, 2025. [Online]. Available: /statistics/264439/oil-reserves-in-selected-countries-since-1990/
