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Venezuela holds the world's largest proven oil reserves at 303.8 billion barrels, while Brazil ranks second with 16.8 billion barrels, bolstered by pre-salt discoveries. In 2025, Brazil's oil production averaged 3.3 million barrels per day, significantly higher than Venezuela's 750,000 barrels per day due to Venezuela's ongoing political and economic issues. Additionally, Brazil is expanding its renewable energy sector by authorizing its first wheat-based ethanol facility, set to produce 45-50 million liters annually by 2027.