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Country Analysis Brief: Saudi Arabia Last Updated: October 20, 2017 Overview Saudi Arabia has 16% of the world's proved oil reserves, is the largest exporter of total petroleum liquids in the world, and maintains the world's largest crude oil production capacity at roughly 12 million barrels per day.1 Saudi Arabia is the world s second-largest holder of proved oil reserves, ranking second only to Venezuela, holding roughly 16% of total reserves. In 2016, Saudi Arabia was the largest exporter of IHS Markit , oil to the red , oil through the pipeline , gulf with the gulf , gas from the ghawar , production from associated gas , oil between the middle , arabia from its abqaiq , arabia is the world , arabia was the world , saudi aramco saudi aramco , saudi arabia , aramco saudi aramco saudi , saudi aramco 21-Apr-2021 auto-generated