16 Countries With The Biggest Oil Reserves In The World in 2017

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7. United Arab Emirates

Proven Reserves (billions of barrels): 97.8

United Arab Emirates ranks 7th  in our list of 16 countries with the biggest oil reserves in the world in 2017. The UAE exported 123.5 million tonnes of oil in 2016. The country’s petroleum exports amounted to $45.56 billion last year, which represented 15% of its total exports. Around 40% of United Arab Emirates’ GDP is dependent on oil and gas production. The country has become one of the most developed nations in the world due to its oil production and exports. In 2010, the UAE’s oil rents represented 20.2% of GDP, but by 2015, this number had declined to 11.2%.

Ashraf Jandali/Shutterstock.com

Ashraf Jandali/Shutterstock.com

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