Fact-check · Oct 1, 2026 · Donald Trump
“If you add Venezuela, we'll have 58% of the fuel in the world”
FALSE
What the record shows
US proven reserves: 4.7% of global total (41.9 billion barrels); Venezuela: 17.17% (303 billion barrels). Combined: ~21.87% of global reserves per OPEC ASB 2025 and EIA data.
US plus Venezuela reserves total approximately 22% of global reserves, not 58%. No metric—reserves or production—supports the 58% claim.
Sources
- Top 10 Countries with the Largest Oil Reserves 2026, List, Rank
- Global strategic petroleum reserves
- Crude Oil Strategic Reserves by Country in Days 2026
- Top 10 Oil Producing Countries in 2026 & Largest Reserves
- Strategic Oil Reserves by Country 2026: Days of Cover
- top 10 countries by oil reserves 2026: The World Energy Map - universal trades company
From: President Trump Participates in a Site Visit, Oct. 1, 2026
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