Iran Ranks 3rd in World in Oil Reserves
The World Atlas reported that a study on the world’s ten largest owners of proven oil reserves in 2024, shows that Iran ranks third with an estimated 208.60 billion barrels of oil reserves.
“This immense resource base makes Iran a key player in the global oil industry, despite its challenges related to international sanctions and geopolitical tensions,” it added.
According to the report, the oil sector is vital for Iran’s economy, providing significant revenue through exports, primarily to Asia.
While global interest in renewable energy is rising, Iran’s oil wealth ensures it remains a major force in the energy market for the foreseeable future, the World Atlast said.
It also ranked Venezuela and Saudi Arabia as the first and second largest holders of proven oil reserves with respectively over 303.22 and 267.19 billion barrels.
Canada with an estimated 163.63 billion barrels of oil ranks fourth after Iran.
Iraq, the United Arab Emirates, Kuwait, Russia, the United States, and Libya are respectively the fifth to tenth largest world owners of proven oil reserves.
4155/v
