OPEC kingpin Saudi Arabia said Wednesday that its huge oil reserves, already the second largest in the world behind only Venezuela, are even bigger than previously thought. The energy ministry said proven oil reserves stood at 263.2 billion barrels at the end of last year, up from the figure of 261 billion barrels that has been used for almost three decades. The kingdom has another 2.9 billion barrels of crude in a border zone shared with neighbouring Kuwait, bringing total oil reserves to 266.1 billion barrels, the ministry said.
