The UAE ranked seventh globally among the highest countries in proven oil reserves, according to World Statistics. The UAE's reserves accounted for 5.6 percent of the world's oil reserves at 97.8 billion barrels. Venezuela came in first place globally, accounting for 17.8 percent of the world's proven oil reserves, amounting to 303.8 billion barrels, followed by Saudi Arabia in second place with 258.6 billion barrels, Iran third with 208.6 billion barrels, Canada in fourth place with 170.3 billion barrels, and Iraq in fifth place with 145 billion barrels.
Source (Alkhaleej Emirati Newspaper, Edited)
