🔥Venezuela holds the largest proven oil reserves in the world, with around 300+ billion barrels of oil beneath its land. In comparison, the United States has about 45–50 billion barrels of proven oil reserves. On paper, this makes Venezuela one of the most oil-rich countries on Earth.
However, the picture completely changes when we look at oil production.
The United States is the world’s top oil producer, pumping approximately 12–14 million barrels per day, thanks to advanced technology, infrastructure, and large-scale investment in energy production. Venezuela, despite its massive reserves, produces only about 0.9–1.1 million barrels per day.
Oil reserves represent what exists underground, while oil production shows what actually fuels the global economy every day. Together, these two metrics explain why the global energy market depends not just on resources, but also on innovation, investment, and efficiency.
STRAX
0.0265
+18.51%
FXS
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FXS
0.938
+48.18%
GUN
0.01974
+21.17%