Did you know that Venezuela holds the largest proven crude-oil reserves in the world, concentrated primarily in the Orinoco Oil Belt — one of the richest heavy-oil regions on the planet? These reserves surpass even those of Saudi Arabia, positioning Venezuela as a key player in the global energy industry.
According to the U.S. Energy Information Administration (EIA), Venezuela has the greatest volume of proven oil reserves, but its production has been severely impacted by economic, political, and technical challenges, as well as by sanctions.
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