Middle East accounts for 48% of global oil reserves

BP estimated that the Middle East region's proven crude oil reserves reached 813.5 billion barrels at end-2016, equivalent to 47.7% of the world's oil proven reserves. Saudi Arabia held 266.5 billion barrels, or 32.8% of total proven reserves in the Middle East at end-2016. Iran followed with 158.4 billion barrels
(19.5%), then Iraq with 153 billion barrels (18.8%) and Kuwait with 101.5 billion barrels (12.5%).
BP, Byblos Research