World's Biggest Oil Reserves

Source: Energy Information Administration, Department of Energy Big movements in the price of oil can have significant effects in the general 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.With much of the world's existing reserves found in the Middle East, Gulf of Mexico and a few other locations around the globe, individual countries benefit incredibly from their surprisingly high concentrations of oil.As of 2010, the US government estimates that the world has proved reserves in the neighborhood of 1.35 trillion barrels; the net amount of oil fields that have been identified as having a reasonable certainty of recovery. Labeling 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. Click ahead for the list!By Paul ToscanoUpdated 28 Feb 2011

Photo: AP Proved oil reserves: 11.65 billion barrels Proportion of world total: 0.95% Daily Oil Statistics (2009): Total oil production: 2.57 million barrels Consumption: 2.52 million barrels Exports to the US: 295,000 barrels (Dec 2010)

Photo: AP Proved oil reserves: 19.2 billion barrels Proportion of world total: 1.42% Daily Oil Statistics (2009): Total oil production: 9.14 million barrels Consumption: 18.81 million barrelsPictured: Chevron El Segundo Refinery, California

Photo: iStock Photo Proved oil reserves: 20.4 billion barrelsProportion of world total: 1.51% Daily Oil Statistics (2009):Total oil production: 3.99 million barrelsConsumption: 8.32 million barrels Exports to the US: 8,000 barrels (Dec 2010)Pictured: Offshore oil in China

Photo: iStock Photo Proved oil reserves: 25.4 billion barrelsProportion of world total: 1.88% Daily Oil Statistics (2009): Total oil production: 1.21 million barrels Consumption: 147,000 barrels Exports to the US: 16,000 barrels (Dec. 2010)Pictured: Oil Refinery in Qatar

Photo: AP Proved oil reserves: 30 billion barrels Proportion of world total: 2.22% Daily Oil Statistics (2009):Total oil production: 1.54 million barrels Consumption: 241,000 barrels Exports to the US: 21,000 barrels (Dec. 2010)Pictured: Control station of the Atasu-Alashenkou pipeline in Atasu, Kazakhstan

Photo: AP Proved oil reserves: 37.2 billion barrels Proportion of world total: 2.75% Daily Oil Statistics (2009): Total oil production: 2.21 million barrels Consumption: 272,000 barrels Exports to the US: 1.07 million barrels (Dec. 2010)Pictured: Boy walks along oil pipeline belonging to the Agip Oil company in Idu Ogba, Niger Delta area of Nigeria.

Photo: AP Proved oil reserves: 44.3 billion barrels Proportion of world total: 3.27% Daily Oil Statistics (2009): Total oil production: 1.79 million barrels Consumption: 264,000 barrels Exports to the US: 66,000 barrels (Dec. 2010) Pictured: Tripoli skyline at night, Libya

Photo: AP Proved oil reserves: 60 billion barrelsProportion of world total: 4.43% Daily Oil Statistics (2009): Total oil production: 9.93 million barrels Consumption: 2.74 million barrels Exports to the US: 514,000 barrels (Dec. 2010)Pictured: Reservoirs at Priobskoye oil field, Siberia, Russia

Photo: AP Proved oil reserves: 97.8 billion barrels Proportion of world total: 7.22% Daily Oil Statistics (2009):Total oil production: 2.79 million barrels Consumption: 492,000 barrels Exports to the US: 10,000 barrels (Sept. 2010)Pictured: Refinery worker rides a bicycle at an oil processing plant in Jebel Ali, Dubai, United Arab Emirates.

Photo: AP Proved oil reserves: 99.4 billion barrelsProportion of world total: 7.34% Daily Oil Statistics (2009): Total oil production: 2.47 million barrels Consumption: 723,000 barrels Exports to the US: 917,000 barrels (Dec. 2010)Pictured: El Palito oil refinery, Puerto Cabello, Venezuela

Photo: Yasser Al-Zayyat | AFP | Getty Images Proved oil reserves: 101.5 billion barrelsProportion of world total: 7.5% Daily Oil Statistics (2009): Total oil production: 2.5 million barrels Consumption: 372,000 barrels Exports to the US: 125,000 barrels (Dec. 2010)

Photo: AP Proved oil reserves: 115 billion barrels Proportion of world total: 8.5% Daily Oil Statistics (2009): Total oil production: 2.4 million barrels Consumption: 636,000 barrels Exports to the US: 336,000 barrels (Dec. 2010)Pictured: Beiji Oil refinery, Iraq

Photo: AP Proved oil reserves: 137.6 billion barrelsProportion of world total: 10.16%Daily Oil Statistics (2009): Total oil production: 4.18 million barrels Consumption: 1.69 million barrels Exports to the US: 0 Pictured: Oil refinery and petrochemical complex, Mahshahr, Iran

Photo: Drilling sites, Northwest Territories, Canada Proved oil reserves: 175.2 billion barrelsProportion of world total: 12.94% Daily Oil Statistics (2009): Total oil production: 3.29 million barrels Consumption: 2.15 million barrels Exports to the US: 2.71 million barrels (Dec. 2010)

Photo: Pete Turner | Stone | Getty Images Proved oil reserves: 259.9 billion barrels Proportion of world total: 19.20% Daily Oil Statistics (2009): Total oil production: 9.76 million barrels Consumption: 2.43 million barrels Exports to the US: 1.09 million barrels (Dec. 2010)

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