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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%).
In 2014 OPEC comprised twelve members: Algeria, Angola, Ecuador, Iran, Iraq, Kuwait, Libya, Nigeria, Qatar, Saudi Arabia, the United Arab Emirates, and Venezuela. According to the United States Energy Information Administration (EIA), OPEC crude oil production is an important factor affecting global oil prices.n 2013 it was 3.06 million barrels per day (487,000 m 3 /d). Saudi Arabia is the largest oil exporter in the world and largest oil producer of the OPEC nations. It has the greatest spare capacity at about 1.5 million barrels per day (240,000 m 3 /d) to 2 million barrels per day (320,000 m 3 /d).