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OPEC member states produce about 40% of the worlds oil, and their exports make up 60% of global petroleum trade. In 2021, OPEC member countries accounted for more than 80% of the worlds proven oil reserves. Venezuela holds almost a quarter of the worlds proven oil reserves by themselves. You may wonder what is proven reserves. Proven oil reserves are when certified engineers have surveyed the land and reported on the profitability of the oil based on the analyzed reports. When you visit the OPEC website you see a chart that breaks down slightly over 80% of the worlds proven oil reserve. As you can see from this chart dated 2021, Iraq is number four on the list, but really number three if you take Irans sanctions into account. Iraq has lots more oil hidden under the earth. Iraq is literally floating on oil, ing to geologist reports. Now, we know, from reliable sources, that Haiti also may have large quantities of oil, And as one viewer of this channel said, that means that his cou