Global Oil Reserves: Which Nations Reign Supreme? đ
Venezuela holds the largest proven oil reserves at 303.2 billion barrels, followed by Saudi Arabia with 267.2 billion. Iran (208.6B), Canada (163.1B), and Iraq (145.0B) round out the top five. The UAE (113.0B), Kuwait (101.5B), Russia (80.0B), the United States (74.4B), and Libya (48.4B) complete the top ten.
These figures arenât just numbers; they represent geopolitical power and economic influence. Control over energy resources directly impacts global markets, price stability, and macroeconomic conditions. However, possessing reserves isnât the whole story. The ability to effectively sell and distribute oilâinfluencing supply and demandâis where true strength lies. The energy market remains a complex and dynamic landscape. đ„
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