5 Countries That Have the Largest Oil Reserves in the World Heading into 2024

In this article we are going to list the 5 countries that have the largest oil reserves in the world heading into 2024. For a detailed coverage of this topic and a more comprehensive list please take a look at the 20 countries that have the largest oil reserves in the world heading into 2024.

5. Iraq

Total oil reserves (in billions of barrels): 145.0

Lukoil, one of Russia’s largest companies, has been working at Iraq’s West Qurna 2 field in a bid to double output up to 800,000 barrels a day, having extended its contract with Iraq to 2045. Additional deals with Russia and China have seen Iraq lessen reliance on the U.S.