February 22, 2021 | oil and gas

Iraq is the fifth in the world and the second in the Arab world with the largest oil reserves for the current year

Baghdad / NINA / - Iraq ranked fifth in the world and second in the Arab world in terms of the most countries possessing oil reserves for the year 2021, according to the GFP global classification institution.

In a report for the year 2021, the Corporation stated that: Iraq's crude oil reserves amounted to 148 billion 800 thousand barrels, and thus it ranks fifth in the world after each of Venezuela, which ranked first with an amount of 302 billion 300 million barrels out of 92 countries that possess oil reserves, Saudi Arabia followed second with 266 billion 200 million barrels, then Canada came in third place with 170 billion 500 million barrels, followed by Iran in fourth place with 157 billion 200 million barrels.

It added that: Iraq ranked second in the Arab world after Saudi Arabia as the largest oil reserve. Kuwait comes third in the Arab world with 101 billion and 500 million barrels, and then the United Arab Emirates comes fourth with 97 billion and 800 million barrels.

It indicated that: Ethiopia was the country with the least oil reserves, as its reserves amounted to 428 thousand barrels, preceded by Morocco 684 thousand barrels, and then Jordan with one million barrels.


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