Venezuela Oil

Oil Reserves in Venezuela (2025)

See also: List of countries by Oil Reserves

Venezuela holds 303,008,000,000 barrels of proven oil reserves as of 2025, ranking #1 in the world and accounting for about 17.17% of the world's total oil reserves of 1,765,151,568,000.

Venezuela has proven reserves equivalent to 3,540.5 times its annual consumption levels (based on 2024 data). This means that, without net exports, there would be about 3,540 years of oil left (at 2024 consumption levels and excluding unproven reserves).

History of Oil Reserves in Venezuela

Oil Consumption in Venezuela (2024)

See also: List of countries by Oil Consumption

• Venezuela consumes 234,478 barrels per day (B/d) of oil as of the year 2024.
• Venezuela ranks #50 in the world for oil consumption, accounting for about 0.23% of the world's total consumption of 102,559,503 barrels per day.
• Venezuela consumes 0.35 gallons of oil per capita every day (based on the 2024 population of 28,405,543 people), or 127 gallons per capita per year (3 barrels). [1 barrel = 42 US Gallons]

Oil Production in Venezuela (2024)

See also: List of countries by Oil Production

• Venezuela produces 902,651 barrels per day of oil (as of 2024) ranking #21 in the world.
• At 2024 production levels, Venezuela produces every year about 0.11% of its proven reserves ( 2025).

Oil Exports (2018)

• In 2018, Venezuela exported 65% of its oil production (1,002,677 barrels per day out of 1,539,316 produced).

History of Oil Consumption and Production