5 Countries That Have the Largest Oil Reserves in the World Heading into 2024

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1. Venezuela

Total oil reserves (in billions of barrels): 303.8

Easily topping the list of the 20 countries that have the largest oil reserves in the world heading into 2024 is Venezuela. After four years, PetroChina is likely to resume imports from Venezuela after sanctions implemented on the company were lifted recently.

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