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Based on data from OPEC at the beginning of 2013 the highest proved oil reserves including non-conventional oil deposits are in Venezuela (20% of global reserves), Saudi Arabia (18% of global reserves), Canada (13% of global reserves), and Iran (9%).
The US is the world's largest consumer of petroleum products, according to the US Energy Information Administration, using 18.6 million barrels per day in 2012. It has long depended on foreign sources to supply much of its oil, made painfully obvious by the oil shocks of the 1970s Arab embargoes.dvances in drilling techniques have elevated US oil production to levels not seen since the 1980s, spurring the industry to consider pushing to end a ban on US exports of oil.