Top 8 countries with world's largest oil reserves 

With 303.806 billion barrels, Venezuela possesses the largest oil reserves globally

Venezuela

 With 258.600 billion barrels, Saudi Arabia has the 2nd largest crude oil reserve. 

Saudi Arabia

Iran has 208.600 billion barrels of reserves, making the Middle East country with the world's 3rd largest oil reserve. Its oil reserves account to world's 16% reserves and is also a crucial element in the local economy. 

Iran

 The second largest country in the world possesses 170.300 billion barrels of oil reserves and is among the biggest oil exporters in the world. Its economy is based on petroleum in a large part.

Canada

Iraq comes fifth among the top countries with oil reserves globally. It has 145.019 billion barrels with most of its oil reserves remaining unexploited.

Iraq

Kuwait holds 8% of the world's exploited oil reserves, around 101.500 billion barrels. Its Bugan field holds the most oil reserves, which is the world's second largest field. 

Kuwait

 UAE has 97.800 billion barrels of oil reserves. 90% of its oil reserves are in Abu Dhabi. UAE's Zakum field is the largest singular field in the country.

UAE

 Russia is Europe's largest oil producer with 80 billion barrels of crude oil reserves and is even one of the world's top oil producers. 

Russia