16 Countries with the Largest Proven Oil Reserves in the World

6. United Arab Emirates 

Total Proven Oil Reserves: 113 billion barrels

Since it was founded in 1971, the UAE has been an oil economy with around 96% of its proven oil reserves located in Abu Dhabi. Blessed with some of the highest quality oil reserves in the world, ADNOC (the national oil company of UAE) has a daily production capacity of 4.85 million barrels of oil and 11.5 billion cubic feet of gas. Fossil fuels accounted for over 40% of Abu Dhabi’s $310 billion GDP in 2023.