Oil
Venezuela was the world’s seventh-largest net oil exporter in 2007.
According to Oil and Gas Journal (OGJ), Venezuela had 99.0 billion barrels of proven oil reserves in 2009, the largest amount in South America. Venezuela is a significant supplier of crude oil to the world market: in 2007, the country had net oil exports of 1.9 million barrels per day (bbl/d), seventh-largest in the world and the largest in the Western Hemisphere. In recent years, crude oil production in the country has fallen, mostly due to natural declines at existing oil fields.
http://www.eia.doe.gov/emeu/cabs/Ven...ackground.html