Venezuela currently has the largest proven oil reserves of any country in the world, ahead of Saudi Arabia and other major producers.

Quick Scoop: Core Answer

  • The country with the most proven oil reserves is Venezuela, with roughly 300+ billion barrels of oil in the ground, depending on the dataset and year.
  • It consistently ranks number one in recent 2024–2025 style rankings, even though it is not the biggest oil producer or exporter today.

Top Reserve Holders (Snapshot)

Here’s a simplified view of the countries that usually appear at the top of recent rankings:

Rank Country Approx. proven reserves (billion barrels)
1 Venezuela ~303
2 Saudi Arabia ~267
3 Iran ~208–209
4 Canada ~160–170
5 Iraq ~145
Figures above are rounded ranges drawn from multiple 2024–2025 style statistical compilations using OPEC/industry data.

Why “Most Reserves” ≠ “Most Production”

  • Proven reserves are an estimate of how much oil is technically and economically recoverable under current conditions, not how much is pumped each year.
  • Saudi Arabia and the United States, for example, often produce more oil annually than Venezuela even though Venezuela has larger reserves , due to infrastructure, investment, and policy differences.

Forum / Trending Angle

In online forum and social discussions, you’ll often see people surprised that it’s Venezuela—not Saudi Arabia or the U.S.—at the top of the reserves list.

Debates frequently spin into questions about why a country with such massive reserves can still struggle economically, touching on governance, sanctions, and the global energy transition away from fossil fuels.

TL;DR: Venezuela has the world’s largest proven oil reserves on most recent rankings, followed by Saudi Arabia and Iran (with Canada and Iraq also high on the list).

Information gathered from public forums or data available on the internet and portrayed here.