Oil Powerhouses: Countries with the Most Oil Reserves, Leaving Saudi Arabia Behind

World News: Nia highlights that countries like Russia, Venezuela, and Canada hold some of the largest oil reserves in the world, surpassing even Saudi Arabia. Despite Saudi Arabia's reputation as a global oil powerhouse, its reserves are relatively smaller compared to these nations. Russia and Venezuela, with their enormous untapped oil fields, along with Canada’s vast oil sands, lead the pack in terms of total reserves. This shift challenges the traditional narrative about Saudi Arabia’s dominant position in global oil production.

1. Russia and Venezuela: The unconscious king of oil reserves

Russia and Venezuela: both these countries are famous worldwide for their huge oil reserves. Russia, which is the largest country in the world, comes second in its oil reserves, while Venezuela owns the largest oil reserves. Venezuela's oil reserves are estimated at more than 300 billion barrels.

2. Russia's impressive oil production

Russia is not only known for its huge oil reserves, but it is also the largest oil producer in the world. Russia's oil production comes mainly from Siberia and western Russia. There are vast sources of oil in these areas, which further increase the energy power of Russia.

3. Canadian oil and resources are rich in resources.

Canada's name comes from huge oil reserves, and 'Alberta Oil Sands' is the world's largest shale oil reserve. The total reserves here are estimated to be more than 170 billion barrels. The Canadian government and companies invest in its excavation.

4. Place and future of Saudi Arabia

Saudi Arabia is often considered the world's oil superpower, but now it has been proved that countries like Venezuela and Russia have more huge reserves in front of it. Saudi Arabia's total oil reserves are around 266 billion barrels, according to the World Bank report, one of the 10 largest stores so far.

5. Changes in Saudi Arabia and Energy Policy

Saudi Arabia has made significant changes in its energy policy over the years. Under a programme called "Vision 2030", Saudi Arabia aims to reduce oil dependence and invest in renewable energy sources. The purpose of this change is to diversify the global energy economy.

6. Iran's and Iraq's developing oil reserves

Countries like Iran and Iraq also hold important places in their oil reserves. Iran has about 157 billion barrels of oil reserves, while Iraq's reserves are also more than 140 billion barrels. The oil reserves and production of these countries affect the world's energy market.

7. Importance of the global energy crisis and oil reserves

At present, the energy crisis worldwide is deepening. In such a situation, the role of vast oil reserves and energy production of these countries becomes very important. Countries like Russia, Venezuela, and Canada can play a decisive role in energy security and supply in the coming years.Obviously, Saudi Arabia's oil reserves are not the largest in the world, and other countries such as Russia, Venezuela and Canada have more huge oil resources. However, Saudi Arabia still plays an important role in the global oil market, and despite changes in its energy policy, this country will be among the major energy producers of the world.