15 countries with biggest oil reserves
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Big movements in the price of oil can have significant impact on the economy, and although the commodity is off its all-time highs, countries with the most oil within their borders are set to benefit as demand for crude continues to rise.
As of 2010, the US government estimates that the world has proved reserves in the neighbourhood of 1.35 trillion barrels; the net amount of oil fields that have been identified as having a reasonable certainty of recovery.
Labelling 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.
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Image: World has proven reserves of 1.35 trillion barrels.
15 countries with biggest oil reserves
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1. Saudi Arabia
Proven oil reserves: 259.9 billion barrels
Proportion of world total: 19.20 per cent
Total oil production: 9.76 million barrels
Consumption: 2.43 million barrels
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Image: Saudi Arabia has proven oil reserves of 259.9 billion barrels.
15 countries with biggest oil reserves
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2. Canada
Proven oil reserves: 175.2 billion barrels
Proportion of world total: 12.94 per cent
Total oil production: 3.29 million barrels
Consumption: 2.15 million barrels
Image: Canada's consumption is 2.15 million barrels.
15 countries with biggest oil reserves
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3. Iran
Proven oil reserves: 137.6 billion barrels
Proportion of world total: 10.16 per cent
Total oil production: 4.18 million barrels
Consumption: 1.69 million barrels
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Image: Iran has proven reserves of 137.6 billion barrels.
15 countries with biggest oil reserves
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4. Iraq
Proven oil reserves: 115 billion barrels
Proportion of world total: 8.5 per cent
Total oil production: 2.4 million barrels
Consumption: 636,000 barrels
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Image: Iraq's proportion of world total is 8.5 per cent.
15 countries with biggest oil reserves
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5. Kuwait
Proven oil reserves: 101.5 billion barrels
Proportion of world total: 7.5 per cent
Total oil production: 2.5 million barrels
Consumption: 372,000 barrels
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Image: Kuwait has total oil production of 2.5 million barrels.
15 countries with biggest oil reserves
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6. Venezuela
Proven oil reserves: 99.4 billion barrels
Proportion of world total: 7.34 per cent
Total oil production: 2.47 million barrels
Consumption: 723,000 barrels
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Image: Venezuela has a consumption of 723,000 barrels.
15 countries with biggest oil reserves
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7. The United Arab Emirates
Proven oil reserves: 97.8 billion barrels
Proportion of world total: 7.22 per cent
Total oil production: 2.79 million barrels
Consumption: 492,000 barrels
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Image: The UAE has proven reserves of 97.8 billion barrels.
15 countries with biggest oil reserves
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8. Russia
Proven oil reserves: 60 billion barrels
Proportion of world total: 4.43 per cent
Total oil production: 9.93 million barrels
Consumption: 2.74 million barrels
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Image: Russia has a consumption of 2.74 million barrels.
15 countries with biggest oil reserves
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9. Libya
Proven oil reserves: 44.3 billion barrels
Proportion of world total: 3.27 per cent
Total oil production: 1.79 million barrels
Consumption: 264,000 barrels
(These figures are based on data available before the political unrest in the country)
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Image: Libya has proven reserves of 44.3 billion barrels.
15 countries with biggest oil reserves
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10. Nigeria
Proven oil reserves: 37.2 billion barrels
Proportion of world total: 2.75 per cent
Total oil production: 2.21 million barrels
Consumption: 272,000 barrels
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Image: Nigeria's proportion of world total is 2.75 per cent.
15 countries with biggest oil reserves
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11. Kazakhstan
Proven oil reserves: 30 billion barrels
Proportion of world total: 2.22 per cent
Total oil production: 1.54 million barrels
Consumption: 241,000 barrels
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Image: Kazakhstan has a consumption of 241,000 barrels.
15 countries with biggest oil reserves
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12. Qatar
Proven oil reserves: 25.4 billion barrels
Proportion of world total: 1.88 per cent
Total oil production: 1.21 million barrels
Consumption: 147,000 barrels
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Image: Qatar has proven oil reserves of 25.4 billion barrels.
15 countries with biggest oil reserves
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13. China
Proven oil reserves: 20.4 billion barrels
Proportion of world total: 1.51 per cent
Total oil production: 3.99 million barrels
Consumption: 8.32 million barrels
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Image: China's proportion of world total is 1.51 per cent.
15 countries with biggest oil reserves
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14. United States
Proven oil reserves: 19.2 billion barrels
Proportion of world total: 1.42 per cent
Total oil production: 9.14 million barrels
Consumption: 18.81 million barrels
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Image: The US has proven oil reserves of 19.2 billion barrels.
15 countries with biggest oil reserves
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15. Brazil
Proven oil reserves: 11.65 billion barrels
Proportion of world total: 0.95 per cent
Total oil production: 2.57 million barrels
Consumption: 2.52 million barrels
Image: Brazil's proportion of world total is 0.95 per cent.
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