Top Oil Reserves by Country and Where Venezuela Ranks

Venezuela is dwelling to over 300 billion barrels of confirmed crude oil — greater than some other nation on the earth.

That is not the rationale President Donald Trump gave, nevertheless, for the shock raid on Venezuela on Saturday that netted its president, Nicolás Maduro, and his spouse.

The Trump administration stated Maduro’s seize was a regulation enforcement operation. Maduro has been indicted on drug trafficking and weapons expenses and is now awaiting his first listening to in a notorious Brooklyn jail.

In a press convention on Saturday, although, Trump stated that with Maduro faraway from the nation, the US would now look to faucet the nation’s oil reserves.

“We will have our very giant United States oil corporations, the most important anyplace on the earth, go in, spend billions of {dollars}, repair the badly damaged infrastructure, the oil infrastructure, and begin making a living for the nation,” Trump stated.

Trump referred to as Venezuela’s oil business a “bust” and “nothing by comparability to what they may have been pumping, and what may have taken place.”

Whereas it is dwelling to a fifth of the world’s oil reserves, Venezuela accounts for lower than 1% of worldwide every day crude manufacturing.

Check out how its reserves evaluate to different nations. This knowledge, from OPEC, doesn’t embrace oil sands deposits, which account for almost all of Canada’s confirmed crude oil reserves.