The 15 Countries That Are Loving The Surge In Oil Prices
Recent economic data has generally been better than expected. In fact, the Citigroup Economic Surprise Index is near a six-month high.
Crude oil prices have been on a tear lately as the improving economic picture could mean more energy will be consumed. Yesterday, light sweet crude oil futures settled at $91.27 per barrel, which is up 19.9% from its October 3 low of $76.15. It's up more than $2 during today's trading.
Of course, if prices rise too high, they could also hurt the economy, causing energy demand to fall. Regardless, when the price of oil rises, so does the value of oil reserves.
We've outlined the countries with the largest oil proved reserves and valued them at current oil prices.
Note: The data is effective January 1, 2011 from the CIA World Factbook. Total reserves are valued assuming $91.27 per barrel of oil.
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