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

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6. Kuwait

Proven Reserves (billions of barrels): 101.5

Kuwait ranks 6th  in our list of 16 countries with the biggest oil reserves in the world in 2017. Kuwait is still very dependent on oil, with its oil rents as a percentage of GDP standing at 38.5% as of 2015, though lower than the 48% figure of five years earlier. Out of total exports of $46.26 billion in 2016, Kuwait’s petroleum exports accounted for $41.46 billion. Kuwait produces around 3.15 million barrels of oil per day. Kuwait Petroleum Corp is the country’s national oil company, and produces 3.2 million barrels of oil per day.

Philip Lange/Shutterstock.com

Philip Lange/Shutterstock.com

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