The Spanish newspaper “OK Diario”, through one of its reports, revealed the country with the largest amount of oil reserves around the world. In terms of oil production. The report stated that the United States of America ranks first in terms of global crude oil production, followed by Saudi Arabia in second place, and then Russia in third place.
In terms of the largest oil producers, as for the largest oil producers in the world, the report pointed out that the largest oil-producing countries are Iran, Kuwait, Iraq, China, the United Arab Emirates, Brazil and Canada, but nevertheless they do not have the advantage of owning the largest amount of global oil reserves. According to data compiled by the organization of the Petroleum Exporting Countries (OPEC), the largest oil reserves in the world are located in Venezuela, where it has about 303 billion barrels of recoverable oil reserves.
Venezuela produces about 700,000 barrels of crude oil per day, a figure much lower than that of major producers around the world. According to the latest recorded data, Venezuela produced only 1% of the crude oil sold globally in 2021, although Venezuela dominates the number of accumulated oil barrels. According to data compiled by the organization of the Petroleum Exporting Countries (OPEC), the largest oil reserves in the world are located in Venezuela, where it has about 303 billion barrels of recoverable oil reserves
. Venezuela produces about 700,000 barrels of crude oil per day, a figure much lower than that of major producers around the world. The newspaper “El Orden Mundial” has shown that according to the latest recorded data, Venezuela produced only 1% of crude oil sold globally in 2021, although Venezuela dominates the number of accumulated oil barrels. Economic situation
It is worth noting that the economic situation of Venezuela has been widely affected by a lack of investment, as well as restrictions on national infrastructure, and restrictions imposed by America in 2019, which prevent Venezuela from using its main source of income, which is oil. Recently, the administration of Joe Biden granted permission to the company “Chevron” to begin talks with the Venezuelan state oil company, on the terms of its future operations
