Russia, with 80 billion barrels of proven oil reserves, has the eighth largest oil reserves in the world. The country’s proven oil reserves increased by 3.4% in 2012. It produced 10.043 million barrels of crude oil per day during the year with 320 active rigs. The United States of America is the top country by crude oil reserves in the world. As of October 2019, crude oil reserves in the United States of America was 12,655 thousand barrels per day. The top 5 countries also includes Russian Federation, Saudi Arabia, Iraq, and Canada. The description is composed by our digital data assistant. Proven Oil Reserves is determined through geological and engineering processes to produce an estimated value of oil stocks in the ground. Proven Oil Reserves showcases the commercially available (and theoretically recoverable) oil reserves of a given country based on its recognized reservoirs. For the purposes of the GFP ranking, oil is a