1. Venezuela – 304 billion barrels. Venezuela has the largest oil reserves of any country in the world, with more than 300 billion barrels of proven reserves.

How much oil does the US get from Venezuela?

U.S. petroleum imports from Venezuela 2000-2019 The U.S. imported roughly 92 thousand barrels per day of petroleum from Venezuela in the first half of 2019. This was a considerable decline compared to the previous year, when 586 thousand barrels per day were imported.

How much does Venezuela export?

Given Venezuela’s population of 28 million people, the estimated $4.8 billion in 2020 Venezuelan exports translates to about $170 per person.

Why does Venezuela not export oil?

The state-run company’s inability to revive exports and its new dependence on imported fuel have sunk OPEC member Venezuela’s industry to levels not seen since the 1940s, when it was boosting crude output while planning its first refineries. PDVSA inaugurated the 310,000-bpd Cardon refinery on the west coast in 1947.

Who buys most of Venezuela’s oil?

In the beginning of 2019, in anticipation of future sanctions, other countries began to wind down imports of Venezuela’s crude oil. In 2019, Venezuela exported primarily to India (321,000 b/d), China (147,000 b/d), and Malaysia (119,000 b/d) (Figure 3).

What kind of crude oil does Venezuela export?

Venezuela Crude Oil: Exports data remains active status in CEIC and is reported by Organization of the Petroleum Exporting Countries. The data is categorized under World Trend Plus’s Association: Energy Sector – Table RB.OPEC.CO: Crude Oil Exports. There is no data available for your selected dates.

How much money did Venezuela export in 1992?

Exports in Venezuela averaged 11127.28 USD Million from 1992 until 2019, reaching an all time high of 31468 USD Million in the third quarter of 2008 and a record low of 2995 USD Million in the first quarter of 1992. source: Banco Central De Venezuela

How much oil does Venezuela use per day?

Venezuela consumes 598,000 barrels per day (B/d) of oil as of the year 2016. Venezuela ranks 31st in the world for oil consumption, accounting for about 0.6% of the world’s total consumption of 97,103,871 barrels per day.

Why is there a shortage of oil in Venezuela?

Heavy crude supplies of the kind Venezuela pumps are constrained worldwide. Large producers, such as Canada and Mexico, are unable to lift exports to replace the lost barrels, and smaller producers, including Colombia and Ecuador, simply do not pump enough to ease the global shortfall.