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Based on data from OPEC at the beginning of 2013 the highest proved oil reserves including non-conventional oil deposits are in Venezuela (20% of global reserves), Saudi Arabia (18% of global reserves), Canada (13% of global reserves), and Iran (9%).
Venezuela, with world's largest reserves, imports oil. CARACAS, Venezuela â For the first time in its 100-year history of oil production, Venezuela is importing crude â a new embarrassment for the country with the world's largest oil reserves.