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The desert kingdom has around 16% of the worldâs proven oil reserves and is the biggest global exporter of petroleum liquids. There is little doubt as to why its national oil company, Saudi Aramco, the biggest energy company in the world, generates over $1 billion in revenue every single day.
Some oil analysts believe that Ghawar passed its peak perhaps a decade ago, but Saudi Arabiaâs infamous lack of transparency keeps everyone guessing. Nevertheless, it remains the worldâs largest oil field, both in terms of reserves and production. It continues to produce 5 million barrels per day (bpd). 2. Burgan (Kuwait) Just behind Ghawar is another massive oil field located in the Middle East.