16 Countries with the Largest Proven Oil Reserves in the World

4. Canada

Total Proven Oil Reserves: 166.7 billion barrels

With estimated reserves of about 164 billion barrels, the Canadian oil sands are among the Largest Oil Deposits in the World. The country is a major crude oil supplier to the US and exported over 80% of its total oil supply to its southern neighbor in 2023. However, Canada’s oil industry is suddenly in peril after President-elect Donald Trump recently announced that he does not intend to spare crude oil from his planned 25% import tariffs on Canada and Mexico.