The Persian Gulf

The Persian Gulf located in the heart of the Middle East accounts for the largest concentration of crude oil reserves in the world. The Safaniya Oilfield located here is generally accepted as the largest oil field in the world. As per assessments in 2002, the middle east nations of Bahrain, Iran, Kuwait, Qatar, Saudi Arabia and the UAE, all having rights to the Persian Gulf accounted for over two thirds of the world’s crude oil reserves.