Oil reserves in the United Arab Emirates, according to its government, are about 98.63 billion barrels (15.681×109 m3), almost as big as Kuwait’s claimed reserves.

Oil Reserves in the United Arab Emirates The United Arab Emirates has proven reserves equivalent to 299.0 times its annual consumption. This means that, without Net Exports, there would be about 299 years of oil left (at current consumption levels and excluding unproven reserves).

Essentially, oil plays a major role in Dubai’s economy, luckily, UAE has enough oil reserves. To answer your question, Dubai would undergo a financial crisis if oil was taken away. UAE and Qatar are also disadvantaged by their population size and dependency on foreign labor.

Abu Dhabi

Venezuela

Searchable List of Crude Oil Exporting Countries in 2020

United States The

(13 May 2021) Brent crude oil prices will average $62.26 per barrel in 2021 and $60.74 per barrel in 2022 according to the forecast in the most recent Short-Term Energy Outlook from the US Energy Information Administration (EIA).

Energy independence is highly concerned with oil, the source of the country’s principal transport fuels. In total energy consumption, the US was between 86% and 91% self-sufficient in 2016. Nineteen percent of imported oil comes from the Middle East.

Oil Reserves in Saudi Arabia Saudi Arabia has proven reserves equivalent to 221.2 times its annual consumption. This means that, without Net Exports, there would be about 221 years of oil left (at current consumption levels and excluding unproven reserves).

Oil Reserves in Pakistan Pakistan holds 353,500,000 barrels of proven oil reserves as of 2016, ranking 52nd in the world and accounting for about 0.0% of the world’s total oil reserves of 1,650,585,140,000 barrels. Pakistan has proven reserves equivalent to 1.7 times its annual consumption.

Four years ago Muhammad bin Salman, the de facto ruler of Saudi Arabia, produced a plan called “Vision 2030” that aimed to wean his economy off oil. Many of his neighbours have their own versions. But “2030 has become 2020,” says a consultant to Prince Muhammad.

The most widely accepted theory for why the Middle East is loaded with oil is that the region was not always a vast desert. The oil was captured in place on the seabed by thick layers of salt. As the land in the modern Middle East region rose due to tectonic activity, the Tethys Ocean receded.

Yemen

Crude Oil Sales In Barrels By Destination And In Percentages

Saudi Arabia

Different sources (OPEC, CIA World Factbook, oil companies) give different figures….