OPEC Rakes in $671B in 2007, Stands to Double Revenues in 2008


OPEC Per Capita Net Oil Export Revenues
(Click to Enlarge)

OPEC Net Oil Export Revenues
(Click to Enlarge)

OPEC Per Capita Net Oil Export Revenues
(Click to Enlarge)

OPEC Net Oil Export Revenues
(Click to Enlarge)

The Energy Information Administration (EIA) estimates that members of the Organization of the Petroleum Exporting Countries (OPEC) earned $671 billion in net oil export revenues in 2007, a 10% increase from 2006. Saudi Arabia earned the largest share of these earnings, $194 billion, representing 29% of total OPEC revenues. On a per-capita basis, OPEC net oil export earnings reached $1,137, an 8% increase from 2006.

Through June, OPEC had earned an estimated $645 billion in net oil export earnings in 2008. Based on projections from the EIA, July 2008 Short Term Energy Outlook (STEO), OPEC net oil export revenues could be $1,251 billion in 2008 and $1,322 billion in 2009.

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