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

2. Saudi Arabia

Proven Reserves (billions of barrels): 266.46

Not only does Saudi Arabia have one of the largest oil reserves in the world, but its state-owned oil and gas company, Saudi Aramco, is the most valuable company in the world, with a market capitalization estimated between $8 trillion and $10 trillion. Saudi Aramco produces around 12 million barrels of oil per day and generates around $1 billion in revenue, according to estimates. The country exported $134.37 billion worth of petroleum in 2016. In volume terms, Saudi Arabia is the second-largest oil exporter, with 8.53 million barrels per day. At the same time, Saudi Arabia produced 12.35 million barrels of oil per day last year.

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