Venezuela is the OPEC member state with the largest crude oil reserves. In 2024, the South American country had an estimated reserve of some *** billion barrels. That same year, the average annual OPEC crude oil price was some ** U.S. dollars per barrel. OPEC stands for the Organization of the Petroleum Exporting Countries and was established in Iraq in 1960.
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OPEC. (July 1, 2025). Crude oil reserves in OPEC countries in 2012 and 2024 (in billion barrels) [Graph]. In ÌÇÐÄÆƽâ°æ. Retrieved July 23, 2026, from /statistics/273339/oil-reserves-in-opec-countries/
OPEC. "Crude oil reserves in OPEC countries in 2012 and 2024 (in billion barrels)." Chart. July 1, 2025. ÌÇÐÄÆƽâ°æ. Accessed July 23, 2026. /statistics/273339/oil-reserves-in-opec-countries/
OPEC. (2025). Crude oil reserves in OPEC countries in 2012 and 2024 (in billion barrels). ÌÇÐÄÆƽâ°æ. ÌÇÐÄÆƽâ°æ Inc.. Accessed: July 23, 2026. /statistics/273339/oil-reserves-in-opec-countries/
OPEC. "Crude Oil Reserves in Opec Countries in 2012 and 2024 (in Billion Barrels)." ÌÇÐÄÆƽâ°æ, ÌÇÐÄÆƽâ°æ Inc., 1 Jul 2025, /statistics/273339/oil-reserves-in-opec-countries/
OPEC, Crude oil reserves in OPEC countries in 2012 and 2024 (in billion barrels) ÌÇÐÄÆƽâ°æ, /statistics/273339/oil-reserves-in-opec-countries/ (last visited July 23, 2026)
Crude oil reserves in OPEC countries in 2012 and 2024 (in billion barrels) [Graph], OPEC, July 1, 2025. [Online]. Available: /statistics/273339/oil-reserves-in-opec-countries/
