petroleum

Saudi Arabia, Russia, the United Arab Emirates, Iraq, the United States and Canada are among the most important crude-oil exporters, but the ranking changes when analysts switch between gross barrels, net exports, crude, refined products and trade value.

Proven oil reserves are the foundation of petrostate power and the lifeblood of the global energy economy. This ranking reveals which countries hold the most oil underground — and why those reserves are simultaneously an enormous economic asset and a geopolitical liability in an era of energy transition.