Crude oil reserves are an important factor in a country’s economy. The countries with the biggest crude oil reserves are Saudi Arabia, Venezuela, and Canada. Saudi Arabia has the biggest crude oil reserve in the world with 266 billion barrels. Venezuela comes in second with 211 billion barrels, and Canada has 171 billion barrels.

The United States is fourth on the list with 159 billion barrels, and Iraq rounds out the top five with 143 billion barrels. Russia has the sixth largest reserve at 125 billion barrels, while Iran has the seventh largest reserve at 118 billion barrels. These ten countries account for over three-quarters of the world’s crude oil reserves.

Countries With The Biggest Crude Oil Reserves

10. United States

Crude Reserves (Barrels): 36,520,000,000
WTI Crude: 58.52

9.Libya

Crude Reserves (Barrels): 48,360,000,000
WTI Crude: 58.52

8.Russia

Crude Reserves (Barrels): 80,000,000,000
WTI Crude: 58.52

7.United Arab Emirates

Crude Reserves (Barrels): 97,800,000,000
WTI Crude: 58.52

6.Kuwait

Crude Reserves (Barrels): 101,500,000,000
WTI Crude: 58.52

5.Iraq

Crude Reserves (Barrels): 142,500,000,000
WTI Crude: 58.52

4.Iran

Crude Reserves (Barrels): 158,400,000,000
WTI Crude: 58.52

3.Canada

Crude Reserves (Barrels): 169,700,000,000
WTI Crude: 58.52

2.Saudi Arabia

Crude Reserves (Barrels): 266,500,000,000
WTI Crude: 58.52

1.Venezuela

Crude Reserves (Barrels): 300,900,000,000
WTI Crude: 58.52

Source: How Much | WTI