Motley Fool | This OPEC Country Has the Largest Proven Oil Reserves (and It's Not Saudi Arabia) Motley Fool Most people just assume that Saudi Arabia is the world's oil king. While it's true that the Middle Eastern nation is the leading oil producer in OPEC, it's not the undisputed leader for global oil output, as that title has rotated between Saudi Arabia ... Oil drops below US$50 on U.S. production growth Oil dives below $50 as confidence in Opec wavers Oil is tumbling |