Venezuela surpasses Saudi Arabia as OPEC's largest holder of proven crude oil reserves, at 296B...

|By:, SA News Editor

Venezuela surpasses Saudi Arabia as OPEC's largest holder of proven crude oil reserves, at 296B barrels vs. 264B. OPEC's overall reserve rose 12.1% in 2010 to 1.19T barrels. Saudi Arabia easily remains OPEC's largest exporter, with the advantage that its oil is mostly light, conventional, easily-pumped crude.