Oil reserves in Venezuela

1 day ago - In 2010 Venezuela reportedly produced 3.1 million barrels of oil daily and exporting 2.4 million of those barrels per day. Such oils exports brought in $61 billion for Venezuela. However, Venezuela only owned about $10.5 billion in foreign reserves, meaning that its debt remained at $7.2 billion ...

1 week ago - REUTERS/Carlos Garcia Rawlins/File Photo Purchase Licensing Rights, opens new tab ... HOUSTON/WASHINGTON, Jan 6 (Reuters) - Caracas and Washington have reached a deal to export up to $2 billion worth of Venezuelan crude to the United States, U.S.

2 days ago - Venezuela holds 303,008,000,000 barrels of proven oil reserves as of 2025, ranking #1 in the world and accounting for about 17.17% of the world's total oil reserves of 1,765,151,568,000.

5 days ago - Venezuela is home to the world’s largest reported oil reserves. The country’s other commodities have also caught the Trump administration’s attention.

2 weeks ago - Venezuela is home to over 300 billion barrels of proven crude oil, the largest reserves globally.

When you hear that Venezuela has the world's largest proven oil reserves, remember that ~2/3 of that comes from the Chavez and Maduro governments using generous assumptions to reclassify large volumes of lower utility, heavy crude as recoverable.

20 hours ago - Over the last month it has hovered between $58.7 and $62.3. For all its vaunted oil reserves, without further major investment to restore its decrepit infrastructure, Venezuela can’t produce much oil.

1 week ago - Most of this oil is concentrated in the Orinoco Belt, where deposits are predominantly heavy crude. While abundant, this type of oil is more expensive to produce and requires specialized infrastructure. Despite its reserve dominance, Venezuela ranked just 21st in oil production in 2024, producing about 960,000 barrels per day.

2 weeks ago - With an estimated 303 billion barrels, Venezuela is home to the world's largest proven oil reserves.

While Venezuela is expected to have the largest amount of proven reserves in the world, it is only the 12th-largest producer because of both above- and below-ground difficulties. Venezuela’s Orinoco oil belt constitutes the majority of the country’s 298 billion barrels of proven oil reserves ...

List of world countries by proven Oil Reserves in barrels.

2 weeks ago - Venezuelan oil reserves eclipse those of Saudi Arabia (267 billion barrels), Iran (209 billion barrels) and other big players.

12 hours ago - That would just be the first tranche of oil, as the Department of Energy has said the oil sales from Venezuela will continue "indefinitely." Venezuela holds the world's largest proven crude reserves at about 303 billion barrels, but years of ...

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Oil prices are trading at ~$57/barrel, making Venezuela's total reserves worth $17.3 TRILLION. Even if the US sells this oil for HALF of the market rate, that's still $8.7 TRILLION.

1 week ago - Trump said on Tuesday that Caracas and Washington have reached a deal to export up to $2 billion worth of Venezuelan crude to the United States, an agreement that would divert supplies from China while helping Venezuela avoid deeper oil production ...

November 25, 2025 - Venezuela sits atop the world’s largest oil reserves, but years of neglect, political risk and decaying infrastructure make recovery slow and costly.

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2 weeks ago - Venezuela holds the world’s largest oil reserves – about 303 billion barrels, or 17% of global reserves – surpassing OPEC+ leader Saudi Arabia, according to the London-based Energy Institute.