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Iraq is the fifth in the world and the second in the Arab world in oil reserves

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.

The corporation stated in a report for the year 2021 that “Iraq’s reserves of crude oil 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, followed by Saudi Arabia comes second, with an amount of 266 billion 200 million barrels, then Canada comes in third place with 170 billion 500 million barrels, followed by Iran in fourth place with 157 billion 200 million barrels.

She added, “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.”

She pointed out that “Ethiopia was the country with the least oil reserves, with reserves amounting to 428 thousand barrels, preceded by Morocco 684 thousand barrels, preceded by Jordan with one million barrels.”