Venezuela’s vast oil reserves: Key questions

Due to the curbs, there are few importers of Venezuelan oil. China buys 80% of it, according to estimates, via Malaysia.

London : After a US military operation that seized Nicolas Maduro, President Donald Trump said he wants to allow American oil companies to head back into Venezuela to tap its massive crude reserves.

The country has the largest proven reserves in the world, with 303.221 billion barrels. REUTERS

Here are some of the key questions around US interest in Venezuelan oil:

What are Venezuela’s reserves?

The country has the largest proven reserves in the world, with 303.221 billion barrels, according to OPEC, which Venezuela is a member of. That puts it ahead of Saudi Arabia