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

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15. Brazil

Proven Reserves (billions of barrels): 13

Brazil currently produces around 2.61 million barrels of oil per day, up by 3.2% on the year. However, because of its high levels of consumption, it doesn’t rely on energy imports very much. Last year, the company exported around 798,000 barrels per day, which is expected to grow in the following years, a trend that the government is very much looking forward to, as it is climbing out of a recession. Brazilian semi-public oil corporation Petroleo Brasileiro SA Petrobras (ADR) (NYSE:PBR) produced 2.14 million barrels per day in 2016, but targets production levels of 2.77 million bpd by 2021. Brazil’s oil rents amount to less than 1% of its GDP.

Thiago Leite/Shutterstock.com

Thiago Leite/Shutterstock.com

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