Does the south china sea truly have the largest oil reserves in the world?

The countries that have the largest oil reserves in the world include Venezuela, Canada and countries in the Middle East like Kuwait, Iran and Iraq. However, there are other areas that contain oil reserves. These places are under the ocean water. Oil rigs must drill deep into the ocean floor in order to get to the oil. Some of these places include areas off the coasts of these countries.

However, the South China Sea is believed to have lots of oil reserves. Countries near the South China Sea including China import oil. If the South China Sea had the largest oil reserves in the world, it would most likely not import oil. Also, only about one percent of all of the oil reserves in the world is from the South China Sea.