Top 10 largest Oil Reserve Countries

Oil, the world is fighting for oil since history. Some Countries are enriched with massive oil reserves, and some with other God gifted reserves. With much of the world’s existing reserves found in the Middle East, Gulf of Mexico and a few other locations around the globe, individual countries benefit incredibly from their surprisingly high concentrations of oil.

As of 2008, the US government estimates that the world has proved reserves in the neighborhood of 1.36 trillion barrels; the net amount of oil fields that have been identified as having a reasonable certainty of recovery. Labeling subterranean oil “proved” reserves takes into consideration both the logistic feasibility, political and economic conditions surrounding the oil’s physical extraction.

With the most recent data from the Energy Information Administration, here are the countries with the biggest proved oil reserves. Click ahead for the list!

10. Nigeria

Proved Oil Reserves: 36.2 billion barrels

Daily Numbers:
Total Oil Production: 2.168 million barrels
Crude Oil Production: 2.165 million barrels
Consumption: 286,000 barrels
Exports to US (2007): 1.13 million barrels

9. Libya

Proved Oil Reserves: 41.5 billion barrels

Daily Numbers:
Total Oil Production: 1.88 million barrels
Crude Oil Production: 1.74 million barrels
Consumption: 273,000 barrels
Exports to US (2007): 117,000 barrels



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