(Businessinsider) - Wine Spectator's editors have been reviewing the best wines in the world since 1988.

Each year, they release their list of the top 100 wines in the world.

"The wines featured on our Top 100 list capture the character of the past year and exemplify the quality and diversity the wine world has to offer," Marvin R. Shanken, editor and publisher of Wine Spectator said in a press release.

This year, the winners were chosen from a pool of 16,000 wines, which the reviewers graded, following blind tastings, according to four factors: quality, value, availability, and the so-called "X-factor," or the excitement that the wine causes.

Here are the 20 best wines in the world, according to Wine Spectator: 

1. Duckhorn Merlot Napa Valley Three Palms Vineyard 2014 ($98, Napa Valley, California)

3. Château Coutet Barsac 2014 ($37, Bordeaux, France)

4. Casanova di Neri Brunello di Montalcino 2012 ($65, Tuscany, Italy)

5. Château de St.-Cosme Gigondas 2015 ($43, Rhône Valley, France)

6. Domaine Huët Vouvray Demi-Sec Le Mont 2016 ($44, Loire Valley, France)

7. Château Canon-La Gaffelière St.-Emilion 2014 ($61, Bordeaux, France)

8. Meyer Cabernet Sauvignon Napa Valley 2014 ($70, Napa Valley, California)

9. Pahlmeyer Chardonnay Napa Valley 2015 ($75, Napa Valley, California)

10. Booker Oublié Paso Robles 2014 ($80, Paso Robles, California