Oil remains vital to global energy, shaping economies and geopolitics. In 2024, global demand averaged 103.84 mb/d, up 1.49 mb/d or 1.5 per cent year-on-year, according to OPEC’s 2025 Statistical Bulletin. Here are the top 7 countries with the largest oil reserves.

Who controls the world’s oil? Top 7 countries ranked with largest reserves: Check where Venezuela ranks

The US military captured President Maduro in a surprise 2026 raid. Washington now aims to tap Venezuela’s 303 billion barrels of oil, the world's largest reserves, to stabilise the nation.

USA attacked Venezuela: How much oil does Venezuela really have?

An unprecedented humanitarian catastrophe - Oil wars, a failing economy, the risk of COVID-19 with a collapsed health care system, dictatorship, drug trafficking, terrorism, complex internal politics and the interests of global powers in a South American nation; might seem like the plot of a fictional movie however it is a stark reality in Venezuela.

In the wake of the historic OPEC deal, the country with the World’s largest oil reserves struggles to survive