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

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12. Kazakhstan

Proven Reserves (billions of barrels): 30

Kazakhstan ranks 12th  in our list of 16 countries with the biggest oil reserves in the world in 2017. Kazakhstan’s exports of fuel represent around 76% of its total merchandise exports. The country produces around 1.67 million barrels of oil per day, but its consumption amounts to just 287,000 barrels. According to OPEC, Kazakhstan has 57 active rigs as of 2016, the second-highest number in Eurasia behind Russia. Kazakhstan’s oil rents represented 5.6% of its GDP in 2015, down from 13.8% in 2010.

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