Fact-check · Nov 9, 2026 · Donald Trump
“We have more oil including Venezuela, then Saudi Arabia and Russia combined by far.”
MISLEADING
What the record shows
US proven reserves: 46 billion barrels (year-end 2024, EIA). Venezuela: 303 billion. Saudi Arabia: 267 billion. Russia: 80 billion. US alone is far below Saudi Arabia + Russia combined.
Claim conflates US reserves with Venezuelan reserves, implying US control. US + Venezuela does exceed Saudi + Russia, but Venezuela's oil is not US oil.
Sources
- Alaska proved reserves increased in 2024, while nationwide proved reserves fell - U.S. Energy Information Administration (EIA)
- Table of Contents U.S. Crude Oil and Natural Gas Proved Reserves, Year-end 2024
- United States Oil Reserves, Production and Consumption Statistics - Worldometer
- Petroleum & Other Liquids Data - U.S. Energy Information Administration (EIA)
- EIA Reports Unexpected Rise in Oil Reserves for Public U.S. Companies
- US Oil Reserve Statistics 2026
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