Top 10 countries with largest oil reserves in 2025: Venezuela leads the world, here’s where Middle East, US and India rank
Top 10 countries with the largest oil reserves in 2025 list: OPEC member countries continue to control the majority of global oil reserves, holding approximately 79.1% of the world's proven reserves.
Top 10 Largest Oil Reserves in the World 2025: Venezuela, Saudi Arabia, and Canada hold the top 3 spots. (Image: Pixabay) Top 10 countries with the largest oil reserves in 2025: Oil remains a strategically crucial resource for meeting global energy needs, influencing the global economy, geopolitics, and international trade.
Amid its rising demand, it reached a global average of 103.84 mb/d in 2024, up by 1.49 million barrels per day (mb/d) or 1.5 per cent from the previous year, according to the OPEC 2025 Annual Statistical Bulletin (60th edition) published in July last year.
The report also highlighted that the world’s proven crude oil reserves stood at approximately 1,566,869 million barrels (mb) at the end of 2024, reflecting a modest increase of 2,340 mb/d, or 0.1 per cent.
Venezuela undoubtedly continues to hold the world’s largest proven crude oil reserves, with 303,221 million barrels, accounting for nearly one-fifth of the global total.
The Middle East dominates global oil reserves, with Saudi Arabia leading at No. 2 globally, producing about 267,200 mb, while Iran follows next at No. 3, with 209 mb.
Other Middle Eastern countries, such as Iraq, the United Arab Emirates, Kuwait, and Qatar, also feature in the list of countries with the largest oil reserves.
Among non-OPEC countries, Canada stands out as the fourth-largest reserve globally, producing 163 mb in 2024. Russia and the United States also feature among the world’s top oil reserve holders.
World’s Top 10 Countries with Largest Oil Reserves in 2025
Source: Organization of the Petroleum Exporting Countries (OPEC) 2025 edition of Annual Statistical Bulletin (ASB)
Note: The figures in the report indicate proven oil reserves at the end of 2024, measured in million barrels.
Where does India stand globally?
Ranked 22nd globally, India’s proven crude oil reserves totalled 4,981 million barrels, up 132 million barrels from 2023.
While modest compared with global leaders such as Venezuela, Saudi Arabia, and Iran, India’s reserves are significant within the OECD Asia Pacific region, ranking just below China.
Stay ahead with the most-read reports – click to view the Top 10.
Share
