Some 70% of the world's proven oil reserves is held in OPEC countries, providing its members with a key political tool.
Proven Oil Reserves is valued through geological and engineering processes to produce an estimated value of oil stocks in the ground. Proven Oil Reserves showcases the commercially available (and recoverable) oil reserves of a given country based on its recognized reservoirs. For the purposes of the GFP ranking, oil is a highly valued factor when considering a prolonged war and is used in conjunction with oil consumption and oil production.
The data presented below is through 2018. Presented in 'bbl' (Barrels)