Crude-oil
Whenever an atmosphere of global stress is created, it directly affects the global economy. Crude oil plays an important role in major products affecting import-export. The discussion of crude oil was in full swing even during the recent tension between Iran and Israel. But do you know who has the most oil reserves among the most powerful countries of the world? In this case, America, Russia, Iran and Saudi Arabia are also behind a country.
According to worldometer data, Venezuela has the highest number of oil reserves, which have 303,008 million barrel oil reserves. However, despite the oil rich, Venezuela's economic condition is very bad. More than 80 percent of the population is living in poverty here and this country is among the top-5 countries with the world's highest inflation.
This country after Venezuela
Saudi Arabia comes after Venezuela, which has 267,230 million barrel oil reserves (2023 figures). Saudi Arabia is not only a leader in oil production, but also rich in areas like tourism and technology. Iran is in third place, which has 208,600 million barrel oil reserves. At number four is Iraq (145,019 million barrels) and the United Arab Emirates (113,000 million barrels) at the fifth. Canada, Kuwait and Libya are also among the top-10 oil reserves countries.
Russia and US oil reserves
Russia has 80,000 million barrel oil reserves, which exports crude oil to many countries including India. At the same time, America has 47,730 million barrels and China has 27,889 million barrel oil reserves. These countries are not only strong in oil reserves, but their economy is also based on diverse sectors.
India is the third largest oil importer
Among the world's largest oil importers, the US and China are at the first two places, which import oil for their consumption. India is the third largest oil importer, which imports 80 percent of its needs. Out of this, 40 percent of the oil comes through the Straight of Hormuz. Amid increasing tension in the Middle East, India has taken strategic steps by increasing oil imports from Russia and America.
Source: www.tv9hindi.com
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