World proven crude oil reserves are estimated at slightly more than 1.2 trillion barrels, of which OPEC Member Countries hold approximately 78 per cent.

OPEC's Members in 2007 produced around 32.1 million barrels per day of crude oil, or 44.9 per cent of the world total output, which stood at about 71.5 million barrels per day.

At the rate of production in 2007, OPEC crude oil reserves are sufficient to last more than 80 years.