Economy & Politics

Photo gallery These countries have the largest oil reserves

Icon image: oil pump
Icon image: oil pumpdpa

Oil is the fuel of the 20th century. The compact energy source has not only revolutionized locomotion on roads, on water or in the air. The plastics produced from it are indispensable in no area of ‚Äč‚Äčlife. Petroleum is not only found in plastic packaging, but also in clothing (in the form of polyester or nylon) and cosmetics (such as paraffin).

Renewable energies are on the rise and fracking has helped natural gas to make a comeback. But the ubiquity of plastic makes crude oil an indispensable raw material in the long run. But in many places the seemingly inexhaustible black gold is running out for decades. At the same time, former monopolists have faced new competition that is causing prices to fall. All of this makes oil a geopolitical factor.

The British oil company BP lists the proven oil reserves of the different countries in its annual energy report. This means the volume of the oil deposit that can be extracted in the future under realistic conditions. Accordingly, a third of the world’s stocks are concentrated in only two countries.

These are the top 10

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