China believe it or not, actually is a minor oil producer, with 1.1% of the worlds reserves. That equates to 18,500,000,000 barrels.
Of course one has to realise that China consumes 11,056,000 barrels of oil a day.
So what is the value of the 18,500,000,000 barrels ?
So crude today trades at about $50.06 a barrel which is £32.23
18,500,000,000 x £32.23 = £651,895,600,000
That is £651 Billion which is about 43% of annual UK GDP