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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%).
HARI SREENIVASAN, PBS NEWSHOUR WEEKEND ANCHOR: Venezuela has the worldâs largest reserves of oil, but with the price of oil in a free fall, the countryâs economy is shrinking, and the South American nation of 30 million people is suffering from severe shortages of food, consumer goods, and services like hospital care.