The correct answer is option 4, Venezuela.

Venezuela is the largest producer of petroleum in South America. The country has significant oil reserves and has been a major player in the global oil industry for many years. It is a founding member of OPEC (Organization of the Petroleum Exporting Countries) and has consistently been one of the top oil-producing countries in the world. Venezuela`s oil industry plays a significant role in its economy, contributing a large portion of its export earnings. The oil reserves in Venezuela are primarily located in the Orinoco Belt, which is one of the largest oil reserves in the world. The country`s national oil company, PDVSA, is responsible for the exploration, production, and export of petroleum. Despite facing various challenges in recent years, including economic and political turmoil, Venezuela remains an important player in the global petroleum market.