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oil
Environment / 1 day ago
Venezuela’s oil production shows signs of recovery amid sanctions
Venezuela’s oil industry has begun a cautious recovery after nearly a decade of steep decline, but production levels remain far below their former peak. Venezuela’s oil industry has begun a cautious recovery after nearly a decade of steep decline, but production levels remain far below their former peak. According to data compiled from Kpler, The National News, Investopedia, and CBC, Venezuela’s crude oil production fell from around 2.7 million barrels per day in 2015 to a low of roughly 569,000 barrels per day in 2020.
Environment / 5 days ago
Where the world’s oil power lies: Mapping the planet’s proven reserves
The world’s oil wealth is highly concentrated as a relatively small group of countries controls the majority of known crude resources, shaping energy markets, geopolitics and long-term economic planning far beyond their borders. The world’s oil wealth is highly concentrated as a relatively small group of countries controls the majority of known crude resources, shaping energy markets, geopolitics and long-term economic planning far beyond their borders. Across the Middle East, the Americas and parts of Eurasia, proven oil reserves run into the hundreds of billions of barrels.
Business / 1 week ago
Why is the world watching Venezuela's oil reserves?
Venezuela holds around 303 billion barrels of proven crude oil reserves, more than any other nation on Earth and roughly 17 per cent of the global total. Venezuela holds around 303 billion barrels of proven crude oil reserves, more than any other nation on Earth and roughly 17 per cent of the global total. That massive number places it above Saudi Arabia, Iran and Canada, a fact that once made the country one of the most influential players in the global oil market.
World / 20 weeks ago
Venezuela tops the 2025 oil reserves ranking
Venezuela leads the world in proven oil reserves in 2025 with an astonishing 303 billion barrels, followed closely by Saudi Arabia at 267 billion barrels, with Iran securing third place at 209 billion barrels. A visual breakdown charts the top ten nations: Venezuela, Saudi Arabia, Iran, Canada (163 bn), Iraq (145 bn), UAE (113 bn), Kuwait (102 bn), Russia (80 bn), the United States (74 bn), and Libya (48 bn).
