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.