Source: BP Statistical Review of World Energy.

Proven Oil Reserves, 1980-2009

Oil reserves show an acute geographical concentration as 65% of them are in the Middle East alone, which is a small region. Exports of petroleum from OPEC countries have generated considerable incomes over the last 30 years, but this wealth is temporary as OPEC countries are often labeled are rent economies. A major challenge for OPEC countries is to use these "petrodollars" to generate economic growth in sectors outside the oil industry, which is what locations such as Dubai have been attempting by the development of financial and trade activities. Latin American has recently seen the discovery of additional reserves, mostly offshore.

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