15 Countries with the Biggest Oil Reserves

Venezuela

Venezuela is a tropical country on the northern coast of South America and is one of the most urbanized countries in Latin America. The discovery of oil was done in the 20^th century and it is one of the leading exporters of oil in the world and has the largest oil reserves. Its calculated total oil reserves is 211 billion barrels which is 15.3 percent, the daily oil supply is 2.47 million barrels and the oil reserves would last for 234.1 years.

Iran

Iran lies in Southern and western Asia and is a regional power which holds an important position in international energy security and world economy because of its large reserves of petroleum and natural gas. It is the third largest in oil reserves and one of the largest natural gas reserves in the world. Its total oil reserves accounts to 137 billion barrels which is 9.9 percent and the oil supply is 4.13 million barrels that is 4.7 percent and the reserves would last for 88.4 years.