Iraq is the second largest Arab country in possession of oil reserves in 2023

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Iraq is the second largest Arab country in possession of oil reserves in 2023

On Saturday, the International Energy Agency reported that Iraq ranked second in the Arab world in terms of countries with the largest oil reserves in 2023.

According to a report, the 10 Arab countries with the highest oil reserves in 2023 were Saudi Arabia, Iraq, and the UAE. These countries remained at the top of the list due to their significant role in the global oil market. The report also noted no changes in the reserves for 2023, except for the UAE, which managed to increase its crude oil reserves.

During 2023, global oil reserves increased to 1.754 trillion barrels from 1.746 trillion barrels in 2022.

According to a report, Saudi Arabia remained at the top of the 10 Arab countries with the largest oil reserves in 2023, holding steady at 267.19 billion barrels. Iraq came in second place on the list, with oil reserves remaining 145.01 billion barrels, the same as in 2021.

The UAE ranked third in increasing its oil reserves in 2023, reaching 113 billion barrels. Kuwait maintained stability with 101.5 billion barrels, while Libya came in fifth with 48.36 billion barrels. Qatar followed in sixth place with 25.24 billion barrels, Algeria with 12.20 billion barrels, and Oman with 4.90 billion barrels.

I see. Egypt and Yemen have the most minor crude oil reserves, with only 3.3 billion barrels of reserves. In particular, Yemen has the least oil reserves, with only 3 billion barrels.