Venezuela currently ranks 1st in the list of countries with the world's largest oil reserves.
According to information from Modern.az, this was stated in the report of the Organization of the Petroleum Exporting Countries (OPEC).
Venezuela is the world leader with oil reserves of approximately 304 billion barrels.
In 2nd place is Saudi Arabia with 262 billion barrels of oil reserves, and in 3rd place comes Iran with 209 billion barrels of reserves.
Canada, Iraq, the United Arab Emirates (UAE), and Kuwait are also among the countries that stand out with their high reserves.
Russia and the US, however, although they are among the world leaders in terms of production, are ranked lower in terms of reserve size.
