Richest country with oil can be measured by oil reserves or oil wealth and GDP. By proven oil reserves, Venezuela has largest proven reserves about 300 billion barrels, followed by Saudi Arabia about 267 billion, but richest in terms of wealth from oil and GDP per capita among oil rich is often considered Saudi Arabia, United Arab Emirates, Qatar, Kuwait, and Norway. By GDP per capita, Qatar and Kuwait are among richest due to huge oil and gas wealth relative to small population, Qatar has very high GDP per capita over 80,000 dollars due to oil and gas. By total oil wealth and economic power, Saudi Arabia is richest oil country with huge reserves and large economy, plus sovereign wealth fund. United States is actually largest oil producer and has large economy, but not richest per capita from oil. So if richest means largest reserves, Venezuela has most reserves but not richest economy due to mismanagement, if richest means wealthiest from oil, Qatar, Kuwait, UAE, and Norway are richest per capita, and Saudi Arabia is richest in total oil revenue and influence. So answer depends on definition, but Qatar and Kuwait are richest per capita oil countries, Saudi Arabia richest overall oil power.
1 votes
Marked as accepted