Ranked: The World’s Oil Reserves by Region

Where Are the World’s Largest Oil Reserves?

Key Takeaways

• The Middle East holds nearly half (48.3%) of the world’s oil reserves, totaling 870.9 billion barrels.
• Venezuela alone accounts for about 86% of Central and South America’s oil reserves.
• Canada holds approximately 82% of North America’s oil reserves, largely due to its vast oil sands deposits.

Oil remains vital to global transportation, industry, and trade, making the location of its reserves strategically important.

At the end of 2025, the world held an estimated 1.8 trillion barrels of oil reserves. However, the regions with the largest reserves aren’t necessarily the ones producing the most oil.

This graphic ranks global oil reserves by region, highlighting where these valuable energy resources are located.

The data for this visualization comes from Eni’s World Energy Review 2026, using oil reserves as of December 31, 2025. Regional classifications follow Eni’s definitions.

The Middle East Dominates Global Oil Reserves

The Middle East leads by a wide margin, with 870.9 billion barrels of oil reserves, representing 48.3% of the global total.

Saudi Arabia holds about 267.2 billion barrels, followed by Iran at 208.6 billion and Iraq at 145.0 billion.

The United Arab Emirates adds another 113.0 billion barrels, highlighting how much oil is concentrated in a handful of countries.

Despite holding nearly half of global reserves, the Middle East is the world’s second-largest oil-producing region, generating approximately 31 million barrels per day in 2025.

Saudi Arabia is the region’s largest producer, at 9.6 million barrels per day. However, its active oil rig count fell to a 20-year low in 2025 as energy investment increasingly shifted toward natural gas production.

Venezuela Accounts for 86% of Its Region’s Oil Reserves

Central and South America ranks second with 354.8 billion barrels, or 19.7% of the world’s oil reserves. Most of this total, however, comes from a single country: Venezuela.

With 303.4 billion barrels, Venezuela holds approximately 86% of the region’s reserves and has the world’s largest national oil reserves.

Despite this enormous resource base, Venezuela’s oil production has been constrained by the challenges of extracting its extra-heavy crude, alongside economic and infrastructure difficulties.

North America Ranks Third

North America holds 246.0 billion barrels of oil reserves, accounting for 13.6% of the global total.

Canada contributes roughly 201.3 billion barrels, or 82% of the region’s reserves, with most of its proven oil reserves located in oil sands deposits.

Under Eni’s regional classifications, North America includes Canada and the United States, while Mexico is grouped with Central and South America.

North America was also the world’s largest oil-producing region in 2025, generating over 31 million barrels per day, equal to nearly 30% of global supply.

Russia and Africa Hold Significant Oil Reserves

Russia and Central Asia hold 145.8 billion barrels of oil reserves, accounting for 8.1% of the global total. Russia holds the largest share of the region’s reserves, followed by Kazakhstan.

Africa ranks fifth with 119.8 billion barrels, with major reserves concentrated in countries such as Libya and Nigeria.

Meanwhile, Asia-Pacific accounts for just 2.9% of global reserves, despite being home to major oil consumers such as China and India.

Europe holds the smallest share at 0.7%, with much of its oil production coming from mature fields in the North Sea.

Together, the Middle East and Central and South America account for 68% of the world’s oil reserves. This concentration helps explain why developments in a relatively small number of oil-rich countries can have an outsized influence on global energy markets.

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To explore the data at the country level, check out this graphic showing the world’s oil reserves by country.