Interesting observation: most people do not realize how deeply politics are intertwined with energy. Recent events in Venezuela vividly demonstrate this. When talking about oil reserves by country, people usually think of the Middle East, but few know that Venezuela holds the record with over 303 billion barrels. At the same time, most of this oil is extra-heavy, difficult to process. But that's not the main point. The main point is that this country can hardly realize its potential due to political instability, corruption, and American sanctions. Currently, Venezuela produces less than 1 million barrels per day, although it could produce much more.

Saudi Arabia ranks second with 267 billion barrels, but that's a completely different story. Their oil is accessible, cheap to extract, and gives them enormous influence on the global market. Riyadh essentially acts as a regulator within OPEC+, managing production volumes to maintain prices. Now that is power.

The third position belongs to Iran with 209 billion barrels, but here too, politics intervene. Despite sanctions, Iranian oil exports reached a seven-year high in 2025. This shows that even with global restrictions, ways can be found. However, fuel smuggling remains a serious problem.

Canada is fourth with 163 billion barrels in Alberta's oil sands. Technically, these are proven reserves, but extracting them is costly and energy-intensive. Interestingly, recent news about the possible resumption of Venezuelan exports to the US has caused concern among Canadian producers.

Iraq ranks fifth with 145 billion barrels. Its economy is entirely dependent on oil exports, but internal conflicts and weak infrastructure limit its potential. Nevertheless, it remains a key supplier for Asian and European buyers.

Looking at the global picture, the Middle East controls about 48% of the world's oil reserves. The UAE and Kuwait each hold over 100 billion barrels. Russia with 80 billion barrels remains a strategic exporter, although sanctions affect its potential. The US ranks tenth, but thanks to shale oil extraction technology, it remains one of the largest producers.

All this information about oil reserves by country reveals a simple truth: control over energy is control over geopolitics. Those with easily accessible oil have an advantage. Those with reserves but political instability or sanctions face peripheral status. This is not just economics; it is a game of influence.