Venezuela is the OPEC member state with the largest crude oil reserves. In 2023, the South American country had an estimated reserve of some 303 billion barrels. In that same year, the average annual OPEC crude oil price was some 83 U.S. dollars per barrel. OPEC stands for the Organization of the Petroleum Exporting Countries and was established in Iraq in 1960.
Crude oil reserves in OPEC countries in 2012 and 2023
(in billion barrels)
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OPEC. (July 1, 2024). Crude oil reserves in OPEC countries in 2012 and 2023 (in billion barrels) [Graph]. In Statista. Retrieved January 25, 2025, from https://www.statista.com/statistics/273339/oil-reserves-in-opec-countries/?__sso_cookie_checker=failed
OPEC. "Crude oil reserves in OPEC countries in 2012 and 2023 (in billion barrels)." Chart. July 1, 2024. Statista. Accessed January 25, 2025. https://www.statista.com/statistics/273339/oil-reserves-in-opec-countries/?__sso_cookie_checker=failed
OPEC. (2024). Crude oil reserves in OPEC countries in 2012 and 2023 (in billion barrels). Statista. Statista Inc.. Accessed: January 25, 2025. https://www.statista.com/statistics/273339/oil-reserves-in-opec-countries/?__sso_cookie_checker=failed
OPEC. "Crude Oil Reserves in Opec Countries in 2012 and 2023 (in Billion Barrels)." Statista, Statista Inc., 1 Jul 2024, https://www.statista.com/statistics/273339/oil-reserves-in-opec-countries/?__sso_cookie_checker=failed
OPEC, Crude oil reserves in OPEC countries in 2012 and 2023 (in billion barrels) Statista, https://www.statista.com/statistics/273339/oil-reserves-in-opec-countries/?__sso_cookie_checker=failed (last visited January 25, 2025)
Crude oil reserves in OPEC countries in 2012 and 2023 (in billion barrels) [Graph], OPEC, July 1, 2024. [Online]. Available: https://www.statista.com/statistics/273339/oil-reserves-in-opec-countries/?__sso_cookie_checker=failed
