The oil sector in the United Arab Emirates significantly contributes to the national economy and the global energy supply. As the world’s seventh-largest holder of proven crude oil reserves, the United Arab Emirates had approximately 111 billion barrels at the beginning of 2023. It is a net exporter of crude oil and petroleum products and has been an active member of the Organization of the Petroleum Exporting Countries (OPEC) since 1967 – OPEC’s Monthly Oil Market Report and Annual Statistical Bulletin are available online. Most of its reserves are onshore, with substantial offshore contributions from fields such as Upper Zakum, the world’s second-largest offshore field. About 96 per cent of these reserves are in Abu Dhabi, which holds around 2 billion barrels. The US Energy Information Administration’s Country Analysis Brief of 28 August 2023 contains more information.