Top 10 countries with largest oil reserves in 2025: Venezuela leads the world, here’s where Middle East, US and India rank

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.