KUWAIT RANKS SEVENTH IN WORLD OIL RESERVES

  • 15/03/2022

Kuwait City:  Kuwait ranks seventh in the world in terms of oil reserves. Kuwait is ranked seventh in the world with 102 billion barrels and a market share of 6%, according to German data company Statista. Saudi Arabia was the largest exporter of crude oil in 2020 with a market share of 17%. However, Saudi Arabia ranks second in terms of global oil reserves with 298 billion barrels.


The German data company Statista's observation of the most important countries in terms of global oil reserves shows that only two - thirds of the reserves are in the two countries. Venezuela tops oil reserves with 304 billion barrels But the country has not traditionally become a major exporter of this commodity. 

Other countries on the list include Canada, which has the third largest oil reserves at 168 billion barrels by the end of 2020. It represents about 10 percent of the global reserves. At the same time, their oil exports are estimated at $ 48 billion.

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