Top 10 Countries With The Largest Oil Reserves

10. Libya: 48.4 Billion Barrels The largest oil fields and greatest oil reserves of Africa are in Libya

9. The United States: 48.5 Billion Barrels The U.S.A has managed to find new levels of success in the past few years, likely due to their new and innovative techniques in drilling for oil. Horizontal drilling has been very effective; and fracking, while somewhat controversial, is undoubtedly an extremely effective approach that has tapped into previously inaccessible sources of oil.

8. The United Arab Emirates: 98.7 Billion Barrels The Zakum oil field in the U.A.E. has been the primary source of oil for this relatively small nation of the Arabian peninsula.

7. Kuwait: 101.5 Billion Barrels Kuwait is another smaller-yet-fertile oil producing nation around the Persian Gulf.

6. Russia: 103.2 Billion Barrels Russia has numerous natural resources for energy, most notably the massive oil fields in Siberia.

5. Iraq: 150 Billion Barrels Iraq has some of the world’s greatest reserves of oil, even though they- likely many other nearby countries in the Middle East- have been burdened down by political struggles for much of the past few decades.

4. Iran: 157.8 Billion Barrels Iran is yet another oil-rich Middle Eastern country, manufacturing nearly 160 billion barrels per year.

3. Canada: 172.9 Billion Barrels

2. Saudi Arabia: 267 Billion Barrels

1. Venezuela: 298.3 Billion Barrels

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