Iraq is the fourth largest oil reserve in OPEC

 
09/22/2020

Economy News _ Baghdad

Venezuela ranked first in the Organization of Petroleum Exporting Countries (OPEC) as its largest reserves of crude oil out of 13 members, and Iraq ranked fourth.

Venezuela, which is one of the founding members of OPEC, has proven oil reserves of 303.81 billion barrels, while Saudi Arabia, the founding member, also comes second with proven reserves of 258.60 billion barrels, and then Iran, the founding member, comes third with proven reserves of 208.60 billion barrels.

Iraq comes in fourth place and it is one of the main founding members of the organization, which was founded in Baghdad in 1960 and has proven reserves of 145.02 billion barrels. Kuwait is fifth, and it is the last founding member of the organization and has proven reserves of 101.50 billion barrels.

The UAE ranked sixth with proven reserves of 97.80 billion barrels, then Libya seventh and proven reserves of 48.36 billion barrels, then Nigeria eighth and proven reserves of 36.89 billion barrels. Algeria comes ninth with proven reserves of 12.20 billion barrels.

Angola comes tenth with reserves of 7.78 billion barrels, Congo ranked 11 with proven reserves of 2.88 billion barrels, then Gabon is ranked 12 with proven reserves of 2 billion barrels, and finally Guyana comes in 13th place with proven reserves of 1.10 billion barrels.

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