Baghdad, The Organization of the Petroleum Exporting Countries (OPEC) announced today, Wednesday, that Iraq possesses the fourth largest proven oil reserves in the world.
OPEC stated in its annual report: “The proven crude oil reserves in the world amounted to 1.545.071 trillion barrels at the end of 2021, and OPEC’s share of these reserves amounted to 1,241.819 trillion barrels.
It added that Iraq ranked fourth globally in the world’s largest proven reserves with 145.019 billion barrels after each of the following:
Venezuela with 303.468 billion barrels, Saudi Arabia with 267.192 billion barrels, and Iran with 208.600 billion barrels.
The organization indicated that the Middle East countries have the largest reserves in the world, with 869.612 billion barrels, thanks to the reserves of Saudi Arabia, Iran, Iraq, Kuwait and the UAE. Latin America came second with 329.481 billion barrels thanks to the reserves of Venezuela, while Africa came third with 120.210 billion barrels thanks to Libya and Nigeria.
Source: National Iraqi News Agency
