Table of Contents
Which country has the most proven crude oil reserves?
Venezuela
Oil Reserves by Country
| # | Country | World Share |
|---|---|---|
| 1 | Venezuela | 18.2\% |
| 2 | Saudi Arabia | 16.2\% |
| 3 | Canada | 10.4\% |
| 4 | Iran | 9.5\% |
What percentage of the world’s proven oil reserves are in the Middle East?
According to current estimates, 79.4\% of the world’s proven oil reserves are located in OPEC Member Countries, with the bulk of OPEC oil reserves in the Middle East, amounting to 64.5\% of the OPEC total.
Which countries in the Middle East do not have oil and gas reserves?
The oil-dry countries of the Middle East include:
- Afghanistan.
- Cyprus.
- Comoros.
- Djibouti.
- Eritrea.
- Lebanon.
- Somalia.
What country has the most oil in the Middle East?
Saudi Arabia
Saudi Arabia Many of the largest oil producers are in the Middle East, including Saudi Arabia, UAE, and Iraq. Saudi Arabia is the world’s largest oil producer and accounts for roughly 15\% of global output.
Who is the world’s largest oil producer?
United States
What countries are the top producers and consumers of oil?
| Country | Million barrels per day | Share of world total |
|---|---|---|
| United States | 20.54 | 20\% |
| China | 14.01 | 14\% |
| India | 4.92 | 5\% |
| Japan | 3.74 | 4\% |
Who has most oil in the world?
Venezuela is the leading country in terms of oil reserves, with over 304 billion barrels of oil beneath its surface. Saudi Arabia is a close second with 298 billion, and Canada is third with 170 billion barrels of oil reserves.
Who controls the most oil in the world?
Top ten countries with the largest oil reserves in 2019
- Venezuela – 304 billion barrels.
- Saudi Arabia – 298 billion barrels.
- Canada – 170 billion barrels.
- Iran – 156 billion barrels.
- Iraq – 145 billion barrels.
- Russia – 107 billion barrels.
- Kuwait – 102 billion barrels.
- United Arab Emirates – 98 billion barrels.
Does Dubai have crude oil?
Dubai has approximately 4 billion barrels of oil in reserve and holds the second place in terms of oil reserves in the UAE. Dubai Petroleum Co (DPC) is the main operator in the emirate. Dubai’s oil production peaked in 1991 at 410,000 b/d and has been steadily declining ever since.
Who found oil in the Middle East?
In March of 1908, after years of difficult conditions and failure, geologist George Bernard Reynolds discovered oil in Persia (modern-day Iran).