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sop

(16,645 posts)
10. Venezuela has the largest amount of oil reserves in the world, more than Saudi Arabia.
Sat Oct 25, 2025, 01:55 PM
Saturday

"Despite Venezuela’s massive supply of natural resources, the country still struggles economically. Venezuela and Saudi Arabia have populations of comparable size; however, Saudi Arabia’s economy is twice as large. One of the main reasons for this disparity is the accessibility of each country’s oil reserves."

https://worldpopulationreview.com/country-rankings/oil-reserves-by-country

Venezuela nationalized its oil industry in 1976 under Carlos Andres Perez, to control the exploration, production, refining, and export of oil. In 1998, when Chávez came to power (and later Nicolás Maduro), the government's control over the industry increased significantly, forcing out most American oil companies. Trump and his Big Oil friends want to regain control of those oil reserves.

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