SSC MTS EXAM

Detailed explanation-1: -Venezuela has the largest amount of oil reserves in the world with more than 300 billion barrels in reserve. Saudi Arabia has the second-largest amount of oil reserves in the world with 297.5 billion barrels. Despite Venezuela’s massive supply of natural resources, the country still struggles economically.

Detailed explanation-2: -Overview This page contains the latest trade data of Crude Petroleum. In 2021, Crude Petroleum were the world’s 1st most traded product, with a total trade of $951B. Between 2020 and 2021 the exports of Crude Petroleum grew by 47.4%, from $646B to $951B. Trade in Crude Petroleum represent 0.045% of total world trade.