“You’ve stuck a lot of straws into the Earth, and it is a finite number. So, the one thing I can almost promise you is that oil will sell for a lot more someday.” Warren Buffett, 2011
Oil reserves are the estimated quantities of crude oil in known underground reservoirs that are technically recoverable and commercially viable under current economic and technological conditions, meaning they can be extracted profitably now.
The biggest proven oil reserves are located in Venezuela, followed by Saudi Arabia, Iran, Iraq and Canada. United Arabian Emirates, Kuwait, Russia, USA and Libya complete the Top 10.
