World’s Top 5 Countries With Largest Oil Reserves In 2025
The top 5 countries with the largest recognized oil reserves in 2025 are:
- Venezuela: 303 billion barrels,
- Saudi Arabia: 267 billion barrels,
- Iran: 209 billion barrels,
- Canada: 163 billion barrels, and
- Iraq: 145 billion barrels, respectively.
Venezuela’s reserves are mainly in the Orinoco Belt’s extra-heavy crude, while Saudi Arabia has strategic, easily accessible oil reserves. Canada holds oil sands, and Iran has significant reserves despite sanctions.
These five countries together hold a very large chunk of the world’s around 1.5 1.6 trillion barrels of proven reserves. The volumes reflect not just geological endowment but also differences in oil quality (light vs heavy), extraction cost, infrastructure, political and regulatory factors affecting ability to produce.
Venezuela holds the largest proven oil reserves globally
Venezuela holds the largest proven oil reserves globally, approximately 303 billion barrels. Much of this is extra‐heavy crude in the Orinoco Belt, which is harder and costlier to extract and refine. Political instability, economic turmoil, sanctions, and ageing infrastructure severely limit Venezuela’s capacity to fully exploit these reserves and maintain high production levels.
Saudi Arabia ranks second
Saudi Arabia ranks second with about 267 billion barrels of proven oil reserves. Its oil is among the most accessible and lowest cost to produce, especially from its giant fields like Ghawar. Saudi Arabia plays a central role in OPEC and global oil markets, able to act as a swing producer.
Iran is third largest
Iran is third, with reserves in the ballpark of 200 210 billion barrels. However, international sanctions, limited access to foreign technology and finance, and logistical constraints hamper its ability to fully develop its reserves. Iran also has large associated natural gas reserves in the region.
Canada is in fourth place
Canada is in fourth place with around 160 170 billion barrels of proven oil reserves. Much of Canada’s reserves are in the oil sands of Alberta, which are expensive and carbon‐intensive to produce compared to lighter conventional oil. Canada’s challenge lies in balancing environmental concerns, regulatory frameworks, and investment.
Iraq is at fifth position
Iraq holds about 145 billion barrels of proven oil reserves. Its reserves are mostly in large conventional fields in the Middle East, which tend to be easier to extract than heavy or extra-heavy oil. However, Iraq’s production and export capacity have often been constrained by political instability, security issues, infrastructure damage.
Disclaimer
Disclaimer
